History of the International Economy: The Bretton Woods System and its Impact on the Economic Development of Developing Countries

Igwe, Isaac O. C.

doi:10.30958/ajl.4.2.1

Cited by 14 publications

(5 citation statements)

References 24 publications

(7 reference statements)

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“…The benefits of this strategy are up for debate. Even though the Adaptation Fund has only raised USD 1 billion in total, it has succeeded in breaking free from the donor-dominated norms of the Bretton Woods institutions and creating an institution that is more responsive to the needs of developing countries due to loss and damage caused by climate change (Jerneck, A., & Olsson, L. 2015;Igwe, I. O. 2018).…”

Section: Literature Review Climate Change Loss-and-damage Fund Before...mentioning

confidence: 99%

Quo Vadis Loss and Damage Fund After Cop28?

Zuhra,

Sabirin

2024

AIJBS

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One of the critical decisions of COP28 related to the L&D fund. Developing countries are confused. If the WB manages L&D, 12% of the fund will be deducted from the WB. If the fund is not managed correctly with World Bank standards, transaction costs, and leakage will result in the L&D fund losing a lot. Based on background, the paper examines how financing climate change L&D will work for developing countries. The findings in this paper show that if the WB manages the L&D fund. The fund management's independence, transparency, and effectiveness will likely be interfered with by certain countries with interests. Therefore, it is essential to publish an independent institution for managing and operating the distribution of L&D funds under the auspices of the UNFCC. In addition, the need for a particular chapter in the IPCC on L&D funds encourages and strengthens the seriousness of developed countries with the consistency of responsibility for the fund. Also, private companies that have interests or contribute the most to high emissions need to contribute to this fund. Furthermore, in the author's opinion, L&D funding is considered successful if it fulfills the following four things: consistency, clarity, community-driven, and corruption-free

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Section: Literature Review Climate Change Loss-and-damage Fund Before...mentioning

confidence: 99%

Quo Vadis Loss and Damage Fund After Cop28?

Zuhra,

Sabirin

2024

AIJBS

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“…The devaluation of the naira had catastrophic consequences because they failed to consider the country's internal dynamics. Igwe (2018) highlights the uneasy relationship between Bretton Wood institutions and the periphery. In decision-making, for example, the United States and the global North dominate the IMF and World Bank with the South having little or no say.…”

Section: Bretton Woods Institutions Paradigmmentioning

confidence: 99%

Global Inequality Challenge: An Analysis of the Disparities in Wealth and Power

N. A.,

C. E.

2024

African Journal of Social Sciences and Humanities Research

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Global inequality is central to the explanation of the disparity between the global North and global South in terms of level of development. World systems theorists have pointed to colonial exploitation of the South by countries in the North as the cause of the disparities in wealth and power between regions. This paper examines global inequality challenges to identify the disparities in wealth and power between the North and the South. The study relied essentially on qualitative data predicated on secondary data. The paper adopted world systems theory as its framework of analysis. The paper showed that the unequal relationship between the global North and the global South was made possible by the colonial exploitation of the South by the North. By adopting the world system theory, the paper revealed how unequal division of labour, terms of trade imbalance, and Bretton Woods Institutions (IMF and World Bank) reinforced global inequality. The study recommended, amongst other things, that the South address internal conditions impeding their development; IMF and World Bank-assisted projects should not be attached with strict conditions.

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“…Consider the supply-and-demand outlook that informs international trade law (Igwe 2018 ). In collaboration with neoclassical economics, the regime imposes a viewpoint that relies on abstract concepts and modelling.…”

Section: The Racism Of International Economic Lawmentioning

confidence: 99%

Racial Capitalism and the Dialectics of Development: Exposing the Limits and Lies of International Economic Law

Attar

Smith

2022

Law Critique

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International economic law is peculiar. It claims universal character, yet eschews engagement with many, if not all, the racialised features of the global political economy. Its scholars mostly ignore imperialism, colonialism, and capitalism; they exclude slavery, predation, and racism altogether. In the following article, we draw upon Walter Rodney’s dialectics of development to offer a racial capitalist critique of international economic law. The disciplinary boundaries and operative logic normalised by its denizens corral us in a white, Eurocentric episteme. Ahistoricism, decontextualisation, and externalisation are three epistemic devices at the forefront of the exclusionary discourse of IEL. In this space, the histories and epistemologies of Black peoples are ghettoised, treated as alien to the framework. After identifying this bias, we use the Black Radical Tradition to evaluate IEL’s amenability to the racial capitalism critique.

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History of the International Economy: The Bretton Woods System and its Impact on the Economic Development of Developing Countries

Cited by 14 publications

References 24 publications

Quo Vadis Loss and Damage Fund After Cop28?

Quo Vadis Loss and Damage Fund After Cop28?

Global Inequality Challenge: An Analysis of the Disparities in Wealth and Power

Racial Capitalism and the Dialectics of Development: Exposing the Limits and Lies of International Economic Law

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