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Essay / Research Paper Abstract
This 6 page paper looks at 3 different international financial institutions, and defines their roles looking at similarities and differences. The institutions examined are the World Bank, the International Monetary Fund and the Asian Development Bank. The bibliography cites 4 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEGBIMFrole.doc
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Unformatted sample text from the term paper:
increasing awareness of economic hardship and disparity between rich and poor nations may also be interpreted as presenting an ethical and moral duty as well as the practical requirement for
international institutions that are able to help regulate, stabilize or support the global economy (Pert, 2009). There are a number of different institutions which have various roles, founded both a
global and regional level. These include the World Bank and international monetary fund at the global level, and at a regional level organization such as the Asian development Bank. Each
of these organizations has specific roles, and although there are similarities there are also some significant differences. The two main global organizations; the World Bank and international monetary fund, often
perceived as having very similar roles, which may be argued as being hindered by the name. In effect, the International Monetary Fund would be better referred to the bank, and
the World Bank, may be better referred to as a fund (Woods, 2007). Both of these organizations were founded as a result of the 1944 Bretton Woods agreement, and are
effectively known as the Bretton Woods institutions. The two organizations work side-by-side, designed as jewel pillars to support the global economic and financial order (Woods, 2007). The decision to
create two organizations, rather than a single unified organization was purposeful, with the aim of gaining benefit from a division of labor between two independent agencies (Woods, 2007). When
examining the role that they have they have distinct characteristics, and other than both being directed by the governments of the member nations, other practical similarities in terms of the
roles they play tend to be superficial, although they both have a role in supporting global economic stability (Woods, 2007). The World Bank is primarily an institution to support
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