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The imposition of a global development architecture: the example of microcredit
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Weber, Heloise (2001) The imposition of a global development architecture: the example of microcredit. Working Paper. Coventry: University of Warwick. Centre for the Study of Globalisation and Regionalisation. (CSGR working papers.
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Official URL: http://www2.warwick.ac.uk/fac/soc/csgr/research/wo...
Abstract
Poverty reduction is now a prime concern of global policy makers. Renewed global efforts for poverty reduction are presented as the Post-Washington Consensus. In this context, I identify an emerging Global Development Architecture that entails new patterns of inter-linkages between the WTO, IMF, World Bank, Regional Development Banks and Bilateral and Multilateral Development Agencies. Using the example of microcredit and poverty reduction I address the political economic implications of the emerging Global Development Architecture. I argue that microcredit (i) facilitates financial sector liberalisation and the global trade in financial services; (ii) functions as a political safety-net, containing or dampening resistance at the community level to liberalisation policies and economic austerity measures. Through a critical review of the Global Development Architecture the article reveals how global and local political economies are being linked via the poverty reduction agenda. Normative discourses underpinning the Post-Washington Consensus are argued to be instrumental to efforts to consolidate constitutionally what continues to be the Washington Consensus.
| Item Type: | Working or Discussion Paper (Working Paper) |
|---|---|
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Faculty of Social Sciences > Centre for the Study of Globalisation and Regionalisation |
| Library of Congress Subject Headings (LCSH): | Microfinance, Poverty -- International cooperation, International economic relations, Economic assistance, Economic development -- Social aspects |
| Series Name: | CSGR working papers |
| Publisher: | University of Warwick. Centre for the Study of Globalisation and Regionalisation |
| Place of Publication: | Coventry |
| Date: | July 2001 |
| Number: | No.77/ |
| Number of Pages: | 29 |
| Status: | Not Peer Reviewed |
| Access rights to Published version: | Open Access |
| URI: | http://wrap.warwick.ac.uk/id/eprint/2041 |
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