The World Bank: Structure and Policies

The World Bank is dedicated to the promotion of sustainable economic development and to poverty reduction throughout the developing world. The contributors to this volume argue the Bank's greatest asset is its accumulated knowledge and experience of the development process, and propose that it organize itself around the concept of a "Knowledge Bank." Part I examines the World Bank as an institution, examining its structure. In Part II the effectiveness of World Bank assistance is evaluated.

List of figures

xv

List of tables

xvi

List of contributors

xviii

Acknowledgements

xxii

Introduction

1

(9)

Joseph E. Stiglitz

The World Bank: an overview of some major issues

10

(29)

Christopher L. Gilbert

David Vines

The institutional organisation of the Bank

12

(2)

The history of the Bank

14

(3)

The World Bank's structure: the Bank as an institution

17

(4)

The World Bank's policies: the effectiveness of World Bank aid

21

(8)

The `Knowledge Bank': a unifying framework

29

(1)

The World Bank and crises

30

(1)

Plan of this volume

31

(1)

The past and the future

32

(7)

Part One: The World Bank's Structure: The Bank as an Institution

Positioning the World Bank

39

(48)

Christopher L. Gilbert

Andrew Powell

David Vines

Introduction and summary

39

(2)

Rationales for an institution like the Bank

41

(3)

Understanding and justifying the Bank's current activities

44

(10)

Two paradigms: the `Conditionality Bank' and the `Knowledge Bank'

54

(5)

The ineffectiveness of conditionality: evidence and implications

59

(6)

The Bank's role in the light of the emerging market financial crisis

65

(7)

The Bank as an institution

72

(15)

The World Bank and poverty reduction: past, present and future

87

(21)

Ravi Kanbur

David Vines

Introduction

87

(1)

A brief history of thinking about poverty reduction

88

(7)

World Bank thinking on, and policy actions towards, poverty

95

(6)

Poverty reduction and the Bank at the turn of the century

101

(7)

Why the World Bank should be involved in development research

108

(24)

Lyn Squire

Introduction

108

(3)

World Bank research and analysis

111

(1)

The World Bank and development research

112

(11)

The bottom line: quality and impact

123

(4)

Conclusion

127

(5)

The challenges of multilateralism and governance

132

(27)

Nagaire Woods

Introduction

132

(1)

The United States and the Bank as a multilateral institution

133

(4)

The relative autonomy of the Bank

137

(10)

New challenges

147

(3)

Conclusions

150

(9)

Part Two: The Effectiveness of World Bank Assistance

The World Bank and structural adjustment: lessons from the 1980s

159

(37)

Francisco H.G. Ferreira

Louise C. Keely

Introduction

159

(1)

The concepts, causes and nature of adjustment

160

(8)

Stabilisation policies

168

(7)

Adjustment and efficiency of resource allocation

175

(4)

Adjustment and equity

179

(9)

Conclusions

188

(8)

Appendix

189

(7)

The implications of foreign aid fungibility for development assistance

196

(14)

Shantayanan Devarajan

Vinya Swaroop

Introduction

196

(1)

Fungibility of economic assistance

197

(3)

Aid fungibility: a research review

200

(4)

Lending instruments and strategies: the implications of economic fungibility

204

(3)

Conclusion

207

(3)

Aid, growth, the incentive regime and poverty reduction

210

(18)

Craig Burnside

David Dollar

Introduction

210

(1)

Aid and growth: theory and evidence

211

(8)

Aid and infant mortality

219

(4)

Conclusions

223

(5)

How policies and institutions affect project performance: microeconomic evidence on aid, policies and investment productivity

228

(38)

Jonathan Isham

Daniel Kaufmann

Introduction

228

(1)

How policies and institutions affect project performance: a framework

229

(3)

The policy determinants of performance: evidence from economic projects

232

(12)

The effect of the overall public investment programme on investment returns

244

(4)

The effect of institutions on investment returns

248

(6)

Implications for World Bank policies and strategies

254

(12)

Appendix: a very simple theoretical model

258

(8)

Increasing aid effectiveness in Africa? The World Bank and sector investment programmes

266

(16)

Stephen Jones

Introduction

266

(1)

Key issues for aid effectiveness

267

(1)

Sector investment programmes

268

(5)

Sector investment programmes in practice: examples from Africa

273

(3)

The role of the sector approach in increasing aid effectiveness

276

(6)

The World Bank, conditionality and the Comprehensive Development Framework

282

(17)

Raul Hopkins

Andrew Powell

Amlan Roy

Christopher L. Gilbert

Introduction

282

(1)

The World Bank: a functional analysis

282

(3)

How to understand the World Bank

285

(3)

The conditionality debate

288

(2)

Conditionality trade-offs

290

(3)

Conditionality and the CDF

293

(2)

Conclusions

295

(4)

Conditionality, dependence and coordination: three current debates in aid policy

299

(26)

Paul Collier

Introduction

299

(1)

Policy conditionality

299

(13)

`Aid-dependency'

312

(8)

The aid relationship as an instrument for regional coordination

320

(2)

Conclusion

322

(3)

Index

325

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The World Bank: Structure and Policies

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