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The Doctrine of Economic Neutrality of the IMF and the World Bank

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  • Richard Swedberg

    (Department of Sociology, University of Stockholm)

Abstract

According to their articles of agreements the International Monetary Fund and the World Bank are only allowed to take economic considerations into account when making a decision. This essay argues that this stance — here labelled the doctrine of economic neutrality — constitutes the main ideology of the IMF and the World Bank. The two major assumptions of the doctrine — that politics can be kept out of the Fund and the Bank, and that decisions can be made on neutral, economic grounds in these two orga nizations — are examined in detail and rejected as false. The essay ends with a suggestion about the real function of the doctrine of economic neutrality: to provide an ideological smokescreen for the powerful Western nations to intervene in favor of free trade capitalism in the domestic affairs of third world coun tries.

Suggested Citation

  • Richard Swedberg, 1986. "The Doctrine of Economic Neutrality of the IMF and the World Bank," Journal of Peace Research, Peace Research Institute Oslo, vol. 23(4), pages 377-390, December.
    • Handle: RePEc:sae:joupea:v:23:y:1986:i:4:p:377-390
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    Cited by:

    1. Axel Dreher & Nathan Jensen, 2003. "Independent Actor or Agent? An Empirical Analysis of the impact of US interests on IMF Conditions," International Finance 0310004, University Library of Munich, Germany, revised 08 Jan 2004.
    2. repec:zbw:bofitp:2011_014 is not listed on IDEAS
    3. Bridget O'Laughlin & Ben Fine & Deborah Johnston & Ana C. Santos & Elisa Waeyenberge, 2016. "Forum 2016," Development and Change, International Institute of Social Studies, vol. 47(4), pages 640-663, July.
    4. Dreher, Axel & Jensen, Nathan M, 2007. "Independent Actor or Agent? An Empirical Analysis of the Impact of U.S. Interests on International Monetary Fund Conditions," Journal of Law and Economics, University of Chicago Press, vol. 50(1), pages 105-124, February.
    5. Axel Dreher, 2009. "IMF conditionality: theory and evidence," Public Choice, Springer, vol. 141(1), pages 233-267, October.
    6. Renato Câmara Nunes Dias & Carlos César Santejo Saiani & Carlos Eduardo Carvalho & Ana Lúcia Pinto da Silva, 2016. "Analysis of the distribution of World Bank disbursements in Latin America between 1985 and 2010 [Analysis of the distribution of World Bank disbursements in Latin America between 1985 and 2010]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 26(2), pages 393-427, May-Augus.
    7. Mattlin, Mikael & Nojonen, Matti, 2011. "Conditionality in Chinese bilateral lending," BOFIT Discussion Papers 14/2011, Bank of Finland, Institute for Economies in Transition.
    8. Khan, Haider & Patomäki, Heikki, 2013. "A reconstructive critique of IPE and GPE from a critical scientific realist perspective: An alternative Keynesian-Kaleckian approach," MPRA Paper 49517, University Library of Munich, Germany.

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