Legitimacy Gaps in the World Economy: Explaining the Sources of the IMF's Legitimacy Crisis
Legitimacy Gaps in the World Economy: Explaining the Sources of the IMF's Legitimacy Crisis
复制标题
世界经济的合法性差距:解释国际货币基金组织合法性危机的根源
DOI:
10.1057/palgrave.ip.8800187
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发表时间:
2007
影响因子:
1.4
通讯作者:
Leonard Seabrooke
中科院分区:
文献类型:
--
作者:
Leonard Seabrooke
Since the Asian financial crisis of 1997–1998, the International Monetary Fund (the Fund) has been embroiled in an international crisis of legitimacy. Assertions of a crisis are premised on the notions that the Fund's voting system is unfair, that the Fund enforces homogeneous policies onto borrowing member states and that loan programmes tend to fail. Seen this way, poor institutional and policy design has led to a loss of legitimacy. But institutionalised inequalities or policy failure is not in itself sufficient to constitute an international crisis of legitimacy. This article provides a conceptually-driven discussion of the sources of the Fund's international crisis of legitimacy by investigating how its formal ‘foreground’ institutional relations with its member states have become strained, and how informal ‘background’ political and economic relationships are expanding in a way that the Fund will find difficult to re-legitimate. The difference between the Fund's claims to legitimacy and how its member states, especially borrowers, act has led to the creation of a ‘legitimacy gap’ that is difficult to close. However, identifying the sources of the Fund's international crisis of legitimacy allows us to explore what avenues are available to resolve the crisis.