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Globalizers: The IMF, the World Bank, and Their Borrowers

by Ngaire Woods Cornell University Press
Pub Date:
Pbk 272 pages
AU$54.99 NZ$58.25
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The greatest success of the International Monetary Fund and the World Bank has been as globalizers. But at whose cost? Would borrowing countries be better off without the IMF and World Bank? This book takes readers inside these institutions and the governments they work with. Ngaire Woods brilliantly decodes what these institutions do and why they do it, using original research, extensive interviews carried out across many countries and institutions, and scholarship from the fields of economics, law, and politics.

“The Globalizers is an outstanding study of the relationships among the IMF, the World Bank, and their clients. Ngaire Woods presents rich empirical stories and strong analytical insights into the role and mission of these institutions and their relationships. This is a book for those with genuinely open minds about this most complex of subjects.”—Richard Higgott, coeditor of Global Governance


1. Whose Institutions?

2. The Globalizing Mission

3. The Power to Persuade

4. The Mission in Mexico

5. Mission Creep in Russia

6. Mission Unaccomplished in Africa

7. Reforming the IMF and World Bank


"No other book provides such an elegant introduction to the principal lending operations of both the IMF and the World Bank. With exceptional clarity and grace, Ngaire Woods strikes a balance between analysis and constructive criticism. Her portrait of the contemporary evolution of the policies and practices of the IMF and World Bank seamlessly integrates an impressive range of research and journalistic coverage."

Ngaire Woods is a Tenured Fellow at University College, Oxford, and Director of the Global Economic Governance Programme at Oxford University. She is the editor of The Political Economy of Globalization and Explaining International Relations since 1945 and the coeditor of Inequality, Globalization, and World Politics.