Explaining organizational outcomes: The International Monetary Fund and capital account liberalization
This article traces the discourse on capital account liberalization in the International Monetary Fund (IMF) during the 1990s. Based on constructivist insights, I argue that rationalist–materialist theories of international organizations neglect the social dynamics of behaviour and change. The empir...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2005
- Institución:
- Universidad del Rosario
- Repositorio:
- Repositorio EdocUR - U. Rosario
- Idioma:
- eng
- OAI Identifier:
- oai:repository.urosario.edu.co:10336/27707
- Acceso en línea:
- https://doi.org/10.1057/palgrave.jird.1800044
https://repository.urosario.edu.co/handle/10336/27707
- Palabra clave:
- Capital account
Liberalization
International monetary fund
Social constructivism
- Rights
- License
- Restringido (Acceso a grupos específicos)
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3256966002020-08-19T14:43:27Z2020-08-19T14:43:27Z2005-04-01This article traces the discourse on capital account liberalization in the International Monetary Fund (IMF) during the 1990s. Based on constructivist insights, I argue that rationalist–materialist theories of international organizations neglect the social dynamics of behaviour and change. The empirical focus is on the transformation of IMF policy and discourse towards emphasizing the liberalization of international capital movements. External factors do not explain the rise of the discourse within the IMF. For that, I refer to the role of organizational culture as the crucial variable. However, the attempt to institutionalize capital account liberalization at the global level failed in the wake of the Asian financial crisis. In the second part, I explore the political decision-making process in the Fund's Board of Executive Directors in order to shed light on the different interpretations of the crisis. I find that, far from imposing a single reading of the causes and effects of the crisis, different interpretations were advanced and contested in the deliberations of the Board. Communicative action explains why the Asian crisis constituted the ‘kiss of death’ for the formal institutionalization of the norm of an open capital account at the international level.application/pdfhttps://doi.org/10.1057/palgrave.jird.1800044ISSN: 1408-6980EISSN: 1581-1980https://repository.urosario.edu.co/handle/10336/27707engSprnger NaturePalgrave261Journal of International Relations and DevelopmentVol. 8Journal of International Relations and Development, ISSN: 1408-6980 ; EISSN: 1581-1980, Vol.8 (2005); pp. 1–26https://link.springer.com/article/10.1057/palgrave.jird.1800044Restringido (Acceso a grupos específicos)http://purl.org/coar/access_right/c_16ecJournal of International Relations and Developmentinstname:Universidad del Rosarioreponame:Repositorio Institucional EdocURCapital accountLiberalizationInternational monetary fundSocial constructivismExplaining organizational outcomes: The International Monetary Fund and capital account liberalizationExplicando los resultados organizacionales: el Fondo Monetario Internacional y la liberalización de la cuenta de capitalarticleArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501Leiteritz, Ralf Juan10336/27707oai:repository.urosario.edu.co:10336/277072020-08-19 09:43:27.28https://repository.urosario.edu.coRepositorio institucional EdocURedocur@urosario.edu.co |
dc.title.spa.fl_str_mv |
Explaining organizational outcomes: The International Monetary Fund and capital account liberalization |
dc.title.TranslatedTitle.spa.fl_str_mv |
Explicando los resultados organizacionales: el Fondo Monetario Internacional y la liberalización de la cuenta de capital |
title |
Explaining organizational outcomes: The International Monetary Fund and capital account liberalization |
spellingShingle |
Explaining organizational outcomes: The International Monetary Fund and capital account liberalization Capital account Liberalization International monetary fund Social constructivism |
title_short |
Explaining organizational outcomes: The International Monetary Fund and capital account liberalization |
title_full |
Explaining organizational outcomes: The International Monetary Fund and capital account liberalization |
title_fullStr |
Explaining organizational outcomes: The International Monetary Fund and capital account liberalization |
title_full_unstemmed |
Explaining organizational outcomes: The International Monetary Fund and capital account liberalization |
title_sort |
Explaining organizational outcomes: The International Monetary Fund and capital account liberalization |
dc.subject.keyword.spa.fl_str_mv |
Capital account Liberalization International monetary fund Social constructivism |
topic |
Capital account Liberalization International monetary fund Social constructivism |
description |
This article traces the discourse on capital account liberalization in the International Monetary Fund (IMF) during the 1990s. Based on constructivist insights, I argue that rationalist–materialist theories of international organizations neglect the social dynamics of behaviour and change. The empirical focus is on the transformation of IMF policy and discourse towards emphasizing the liberalization of international capital movements. External factors do not explain the rise of the discourse within the IMF. For that, I refer to the role of organizational culture as the crucial variable. However, the attempt to institutionalize capital account liberalization at the global level failed in the wake of the Asian financial crisis. In the second part, I explore the political decision-making process in the Fund's Board of Executive Directors in order to shed light on the different interpretations of the crisis. I find that, far from imposing a single reading of the causes and effects of the crisis, different interpretations were advanced and contested in the deliberations of the Board. Communicative action explains why the Asian crisis constituted the ‘kiss of death’ for the formal institutionalization of the norm of an open capital account at the international level. |
publishDate |
2005 |
dc.date.created.spa.fl_str_mv |
2005-04-01 |
dc.date.accessioned.none.fl_str_mv |
2020-08-19T14:43:27Z |
dc.date.available.none.fl_str_mv |
2020-08-19T14:43:27Z |
dc.type.eng.fl_str_mv |
article |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_6501 |
dc.type.spa.spa.fl_str_mv |
Artículo |
dc.identifier.doi.none.fl_str_mv |
https://doi.org/10.1057/palgrave.jird.1800044 |
dc.identifier.issn.none.fl_str_mv |
ISSN: 1408-6980 EISSN: 1581-1980 |
dc.identifier.uri.none.fl_str_mv |
https://repository.urosario.edu.co/handle/10336/27707 |
url |
https://doi.org/10.1057/palgrave.jird.1800044 https://repository.urosario.edu.co/handle/10336/27707 |
identifier_str_mv |
ISSN: 1408-6980 EISSN: 1581-1980 |
dc.language.iso.spa.fl_str_mv |
eng |
language |
eng |
dc.relation.citationEndPage.none.fl_str_mv |
26 |
dc.relation.citationStartPage.none.fl_str_mv |
1 |
dc.relation.citationTitle.none.fl_str_mv |
Journal of International Relations and Development |
dc.relation.citationVolume.none.fl_str_mv |
Vol. 8 |
dc.relation.ispartof.spa.fl_str_mv |
Journal of International Relations and Development, ISSN: 1408-6980 ; EISSN: 1581-1980, Vol.8 (2005); pp. 1–26 |
dc.relation.uri.spa.fl_str_mv |
https://link.springer.com/article/10.1057/palgrave.jird.1800044 |
dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_16ec |
dc.rights.acceso.spa.fl_str_mv |
Restringido (Acceso a grupos específicos) |
rights_invalid_str_mv |
Restringido (Acceso a grupos específicos) http://purl.org/coar/access_right/c_16ec |
dc.format.mimetype.none.fl_str_mv |
application/pdf |
dc.publisher.spa.fl_str_mv |
Sprnger Nature Palgrave |
dc.source.spa.fl_str_mv |
Journal of International Relations and Development |
institution |
Universidad del Rosario |
dc.source.instname.none.fl_str_mv |
instname:Universidad del Rosario |
dc.source.reponame.none.fl_str_mv |
reponame:Repositorio Institucional EdocUR |
repository.name.fl_str_mv |
Repositorio institucional EdocUR |
repository.mail.fl_str_mv |
edocur@urosario.edu.co |
_version_ |
1818106642577752064 |