The imposition of a global development architecture: the example of microcredit
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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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|
|Number of Pages:||29|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
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