The International Monetary Fund and the World Bank: A Brief History with a Focus on the Effect on Lower Developed Countries As the title suggests, the focus of this exploration on the International Monetary Fund (IMF) and the World Bank will be double: that is, a historical review will be combined with analysis. The historical review will trace the development of each organization, from inception to modernity. This historical review, however, will be tempered by an analysis of how the development has affected lower developed countries. Two theoretical approaches will be employed. The first theoretical approach is based off of Manuela Moschella’s Governing Risk: The IMF and Global Financial Crises. Moschella , in this text, relies heavily...The end:
.....ll not and cannot represent anything other than their fragmented parts. There is no room for discussion, criticism, and most distressingly, no room for change. Individual countries are helpless to control their destiny in such an organization. Both organizations – the IMF and the World Bank – are in need of constant reform and attention; however, only one organization is structured so that it may accept that reform. Works Cited Bird, Graham. “The IMF: A Bird’s Eye View of Its Role and Operations.” Journal of Economic Surveys 21.4 (2007): 683-745. Moschella , Manuela. Governing Risk: The IMF and Global Financial Crises. New York: Palgrave Macmillan, 2010. Murphy, Jonathan. The World Bank and Global Managerialism . New York: Routledge , 2010.