Governance and Accountability in International Finance

The Bretton Woods Institutions and Regional Development Banks

May 2008

Introduction

In the spring 2008 semester, the University of Iowa Center for International Finance & Development (UICIFD) produced a poster presentation on the following topic: "Governance and Accountability in International Finance: The Bretton Woods Institutions and the Regional Development Banks." The issues of governance and accountability have become central to academics, policymakers, and constituencies within civil society who are concerned about the legitimacy and viability of the International Monetary Fund (IMF) and the World Bank (WB), as well as the regional development banks: the InterAmerican Development Bank (IDB), the African Development Bank (AfDB), the Asian Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD).

The poster presentation was based on four papers written by eight staff members of UICIFD. One paper addresses the concepts of governance and accountability in international organizations, particularly those that deal with international finance and development. Two other papers focus on governance and accountability issues relating to the IMF and the WB. The fourth addresses governance and accountability with respect to the regional development banks. The overall goal of the research papers is to explore how these institutions have tried to adapt to a world that has changed drastically since they were established, a world in which various stakeholders, ranging from member countries to local and international non-governmental organizations, have demanded reforms in institutional governance and accountability.

Papers (April 2008)

Governance and Accountability at the International Monetary Fund

Governance and Accountability of the World Bank

Governance and Accountability at the Regional Development Banks

The Theory of Governance and Accountability

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