THE BRETTON WOODS INSTITUTIONS AND THE PROSPECT OF NATIONAL DEVELOPMENT IN THE GLOBAL SOUTH: A POLITICAL ECONOMY PERSPECTIVE

Augustine Ejiofor Onyishi, Valentine Chukwunonso Amoke

Abstract


This study attempts an appraisal of the impact of the Breton Woods policies on the economies of the developing countries of the global south. Using data empirically generated from the secondary source the study contend that the premature finance and capital market liberalization, privatization and deregulation that became the central part of the Breton Woods reform agenda in the global south is responsible for the present economic crises of unparallel intensity in the region. The study recommended that, the institutions should not be allowed to act independent of superior authorities. It argues that an oversight of global colouration, is required to ensure they do not derail from their original mandate.


Keywords


National Development; Breton Woods System; Global South; Liberalisation; Poverty; And Underdevelopment

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