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The Political Economy of the World BankThe Early Years$
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The Political Economy of the World Bank: The Early Years

Michele Alacevich

Print publication date: 2009

Print ISBN-13: 9780804760652

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804760652.001.0001

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The World Bank and Development

The World Bank and Development

Chapter:
(p.1) Chapter One The World Bank and Development
Source:
The Political Economy of the World Bank
Publisher:
Stanford University Press
DOI:10.11126/stanford/9780804760652.003.0001

This chapter examines the early years of the International Bank for Reconstruction and Development (IBRD), commonly known as the World Bank, in the 1940s and the 1950s. It explains that the IBRD was formed by the Bretton Woods Conference in 1944, and that its original mission was to help the postwar reconstruction of devastated European countries and the development of poorer member countries. The chapter reviews relevant literature, suggesting that it has rarely paid attention to the institution's transition periods and has often neglected a major aspect of all transitions, that is, uncertainty.

Keywords:   World Bank, IBRD, Bretton Woods Conference, postwar reconstruction, transition periods

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