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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 (No.77/).
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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) | ||||
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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 | ||||
Official Date: | July 2001 | ||||
Dates: |
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Number: | No.77/ | ||||
Number of Pages: | 29 | ||||
Institution: | University of Warwick | ||||
Status: | Not Peer Reviewed | ||||
Access rights to Published version: | Open Access (Creative Commons) |
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