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Toward a Pluripolar Global Financial Architecture? The Bretton Woods Institutions and the New Landscape of Developmental Finance

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  • Ilene Grabel

Abstract

I advance three claims in the paper. First, the Asian and especially the global financial crisis occasioned discontinuities and continuities that are imparting incoherence to the global financial governance architecture and developmental finance. Second, the emergent incoherence is productive of development rather than debilitating. Third, productive incoherence can be understood most fully within a “Hirschmanian mindset,†that is, an understanding of social and regime change informed by Albert O. Hirschman’s key theoretical and epistemic commitments.

Suggested Citation

  • Ilene Grabel, 2018. "Toward a Pluripolar Global Financial Architecture? The Bretton Woods Institutions and the New Landscape of Developmental Finance," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(4), pages 653-659, December.
    • Handle: RePEc:sae:reorpe:v:50:y:2018:i:4:p:653-659
    DOI: 10.1177/0486613418761894
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    References listed on IDEAS

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    1. Jeremy Adelman, 2013. "Worldly Philosopher: The Odyssey of Albert O. Hirschman," Economics Books, Princeton University Press, edition 1, number 9935.
    2. Ocampo, José Antonio, 2006. "Regional financial cooperation: experiences and challenges," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1923.
    3. Ilene Grabel, 2015. "Post-Crisis Experiments in Development Finance Architectures: A Hirschmanian Perspective On ‘Productive Incoherence’," Review of Social Economy, Taylor & Francis Journals, vol. 73(4), pages 388-414, December.
    4. Ilene Grabel, 2011. "Not your grandfather's IMF: global crisis, 'productive incoherence' and developmental policy space," Cambridge Journal of Economics, Oxford University Press, vol. 35(5), pages 805-830.
    5. -, 2006. "Regional financial cooperation," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1922 edited by Eclac.
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    More about this item

    Keywords

    global financial architecture; Bretton Woods institutions; developmental finance; Albert O. Hirschman;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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