The Political Economy of the World Bank

Abstract

This book is a study of economic history. It describes what is perhaps the most crucial time for development economics: the birth of the "third world," the creation of development economics as a discipline, and the establishment of the World Bank's leading role in development. Using previously unavailable archival material, the text takes a close look at the years during which the International Bank for Reconstruction and Development—now known as the World Bank—turned its attention from reconstruction to development, having been upstaged by the Marshall Plan. The author describes the "Currie Mission" to Colombia (1949–1954), the World Bank's first general survey mission in a developing nation. With the Currie Mission as a starting point and a case study, he analyzes the complexities of the Bank's first steps toward economic and social development in poorer nations, and helps the reader understand some foundational questions about development that are still of great relevance today. The book is essential reading for anyone interested in the economic history of international development as a lens for better understanding current development issues.

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