"What
is the World Bank Good for? Global Public Goods and Global Institutions" 
CEPR Discussion Paper No. DP12090
CEPR Discussion Paper No. DP12090
RAVI KANBUR, Cornell University,
Centre for Economic Policy Research (CEPR), IZA Institute of Labor Economics
Email: sk145@cornell.edu
Email: sk145@cornell.edu
The
World Bank is in the doldrums, or worse. The Global Public Goods (GPGs)
argument is often put forward as a way of reviving and even rescuing an
institution whose financial base to support conventional sovereign loans is
receding sharply relative to needs and competition from other sources. The
World Bank does have certain advantages as an institution, which the global
community could use to address GPG issues. It has technical excellence and convening
power to help build consensus on a range of GPG issues, although this cannot be
fully realized without radical reform of its governance structures. It has
experience with managing concessional and grant resources, which will be
central to financing GPG mechanisms. And it also has experience with country
operations to implement the country specific dimensions of GPG mechanisms. That
is what the World Bank is good for now, three quarters of a century after its
founding
Book: Chapter 13
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