Journal of Humanities, Arts and Social Science

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Frequency: monthly ISSN Online: 2576-0548 CODEN: JHASAY
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Special Issue

“Impoverishment of Poor Countries by World Bank and IMF”

Dear colleagues,

Nowadays, it is a truism that poor countries are facing stringent conditions in order to gain access to World Bank and IMF development finance. These two international organizations were supposed to alleviate poverty in poor countries, but such is not the case. The proliferation of IMF and World Bank conditions is forcing highly controversial economic and social policy reforms on poor countries, such as trade liberalization and privatization of essential services.

The International Monetary Fund and the World Bank have long been criticized for the onerous influence they exert over the domestic policies of many states. Especially since the 1990s, they have been excoriated for imposing policies—such as structural adjustment reforms and austerity measures—on client states that deepen inequality in the Global South, which, in turn, benefits the powerful countries of the Global North. How do we understand the structural origins of this global imbalance? One fairly standard view is to place the blame solely on neoliberalism. This perspective argues that the IMF and the World Bank—institutions that date back to World War II—at one time allowed for a more equitable system of economic governance under the Bretton Woods system of global monetary management, which collapsed in the early 1970s. In its place, the argument goes, free market economic policies began to dominate. Cemented by the elections of Ronald Reagan and Margaret Thatcher, these institutions moved in a decidedly neoliberal direction throughout the 1980s. By the 1990s, the Democratic Party had made its peace with this ideological revolution. Under Bill Clinton, the IMF and the World Bank furthered their embrace of economic shock therapies. In this way, the turn to neoliberalism is blamed for the Third World Debt Crisis, the Asian Financial Crisis of 1997–98, and the pillaging of Russia and the former Eastern Bloc countries after the fall of the Soviet Union. Yet, in his new book, "The Meddlers: Sovereignty, Empire, and the Birth of Global Governance," Jamie Martin challenges this standard narrative. Martin, soon to be an assistant professor of history and social studies at Harvard University, argues that if we truly want to understand the disastrous consequences of the IMF's and the World Bank's interference in the domestic policies of sovereign states, it is necessary to understand the first international institutions of economic governance, such as the League of Nations and the Bank for International Settlement, which emerged in the wake of World War I.

Guest Editors

Guru Dev Teeluckdharry

School of Business, The University of Leicester, UK

Topics of interest: Sociology, Anthropology, Philosophy, Management, Arts, Humanities, Social Sciences, Political Science

Manuscript Submission Information

Authors should submit their manuscripts for the special issue by emailing them as an attachment to specialissue@hillpublish.com or by using the online submission system. The manuscript should be submitted by one of the authors, and submissions by anyone other than the authors will not be accepted. Additionally, the submitted manuscript should include a cover letter that specifies the special issue to which the manuscript is being submitted.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). The submitted papers should be properly formatted and written in fluent English. All manuscripts are thoroughly refereed through a double-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Guidelines page.

Deadline for manuscript submissions

September 28, 2023

List of Publications in This Special Issue