The Normative Construction of Modern Development at the Bretton Woods Institutions

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Copyright: 2024
Pages: 20
Source title: Cognitive Governance and the Historical Distortion of the Norm of Modern Development: A Theory of Political Asymmetry
Source Author(s)/Editor(s): Renny Rueda (American University in the Emirates, UAE)
DOI: 10.4018/978-1-6684-9794-4.ch006

Keywords: Business Science Reference / Government and Law / Political Science / Social Sciences & Humanities

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Abstract

This chapter depicts the operational stages through which a norm on modern development evolved institutionally at the level of the World Bank and the International Monetary Fund. It describes such historical evolution within two biographical periods of both institutions, the first one between their foundation in 1945 until the 70s decade. The second one, from that decade until today. In recent decades, the influence of the regulatory scope of the Bretton Woods Institutions extensively shaped domestic and international identities and norms. In essence, for the last 70 years, settings of the global economy were transposed along the cultural, social, industrial, and overall political architecture of each one of the nation-states part of the World Bank or the IMF.

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