By P. Riggirozzi
Drawing at the Latin American political economic climate, this publication brings to the fore empirical questions about assorted styles of involvement of IFIs in pursuing politically-sensitive reforms, the ability of neighborhood actors to persuade results, the context during which they have interaction, the kind of coverage principles conveyed, and the coverage method which are complicated.
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Extra resources for Advancing Governance in the South: What Roles for International Financial Institutions in Developing States?
Global developments change the policy preferences of some actors, increase the bargaining power of others and open up new institutional options for still others. 32 Advancing Governance in the South Indeed, a realization of the power of local actors in development, and most radically in crisis management, is at last beginning to ﬁlter into the IFIs themselves, where it is increasingly argued that engaging and networking with local actors can help to institutionalize effective policies (Levy and Kpundeh 2004).
These patterns are associated with the extent to which the IFIs acknowledge the complex and dynamic relationships in local politics or simply seek a technical, a-political institutionalization of norms in which the state is expected to act as a transmission mechanism for externally conceived paradigms. Based on these ﬁndings issues of power, compliance, legitimacy and policy change are then discussed 22 Advancing Governance in the South within the broader context of the contemporary shift in Latin America towards a re-evaluation of the role of the state and civil society vis-`a-vis external actors in the deﬁnition of development agendas.
Knowledge, funds and pro-reform networks In order to legitimize new areas of involvement and policy-making within the IFIs, ideas on what constitutes good governance have been supported by research and the diffusion of knowledge which, in combination with funding, enhanced the reach and scope of IFIs’ operations. Some scholars have claimed that research and knowledge management within the World Bank and the IMF became ‘the visa required to cross funding’s frontier’ (Samoff 1992: 64; also Stone 2000; Momani 2007).