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  • Chapter 22 - Global economic institutions

  • from Part 4 - The new agenda: Globalisation and global challenges
  • Edited by Richard Devetak, University of Queensland, Daniel R. McCarthy, University of Melbourne
  • Book:
    An Introduction to International Relations
    Published online:
    31 August 2024
    Print publication:
    12 August 2024, pp 296-308

  • Summary

    This chapter explores the role of three global economic institutions (GEIs) in contemporary economic governance: the International Monetary Fund, (IMF), the World Bank and the World Trade Organisation (WTO). GEIs are key components of global economic governance, and their activities are central to the pursuit of accountability, efficiency and equity in the global economy. The impact of GEIs on states and societies is complex and widely varying assessments of the performance of these organisations can be found in the literature. Given the absence of theoretical consensus on the roles and functions of GEIs, the first part of the chapter examines competing perspectives on international organisations.