,,,From World Bank to World Development Cooperative

From World Bank to World Development Cooperative


 

Publication Date: October 2007

Publisher: Center for Global Development; Center for Global Development

Author(s): Nancy Birdsall; Arvind Subramanian; Nancy Birdsall; Arvind Subramanian

Research Area: Banking and finance

Type:

Abstract:

In this CGD Essay, Birdsall and Subramianian argue that the World Bank faces twin crises of relevance and legitimacy in a rapidly changing world. The solution, they argue, is for the bank to become a more active catalyst for generating global public goods and knowledge and a more reluctant lender to governments. The World Bank should move, in effect, from being a bank to being a global development cooperative. The essay suggests specific, practical steps for such reforms.