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Explaining organizational outcomes: The International Monetary Fund and capital account liberalization

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dc.creatorLeiteritz, Ralf Juan
dc.date.accessioned2020-08-19T14:43:27Z
dc.date.available2020-08-19T14:43:27Z
dc.date.created2005-04-01spa
dc.description.abstractThis 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.eng
dc.format.mimetypeapplication/pdf
dc.identifier.doihttps://doi.org/10.1057/palgrave.jird.1800044
dc.identifier.issnISSN: 1408-6980
dc.identifier.issnEISSN: 1581-1980
dc.identifier.urihttps://repository.urosario.edu.co/handle/10336/27707
dc.language.isoengspa
dc.publisherSprnger Naturespa
dc.publisherPalgravespa
dc.relation.citationEndPage26
dc.relation.citationStartPage1
dc.relation.citationTitleJournal of International Relations and Development
dc.relation.citationVolumeVol. 8
dc.relation.ispartofJournal of International Relations and Development, ISSN: 1408-6980 ; EISSN: 1581-1980, Vol.8 (2005); pp. 1–26spa
dc.relation.urihttps://link.springer.com/article/10.1057/palgrave.jird.1800044spa
dc.rights.accesRightsinfo:eu-repo/semantics/restrictedAccess
dc.rights.accesoRestringido (Acceso a grupos específicos)spa
dc.sourceJournal of International Relations and Developmentspa
dc.source.instnameinstname:Universidad del Rosario
dc.source.reponamereponame:Repositorio Institucional EdocUR
dc.subject.keywordCapital accountspa
dc.subject.keywordLiberalizationspa
dc.subject.keywordInternational monetary fundspa
dc.subject.keywordSocial constructivismspa
dc.titleExplaining organizational outcomes: The International Monetary Fund and capital account liberalizationspa
dc.title.TranslatedTitleExplicando los resultados organizacionales: el Fondo Monetario Internacional y la liberalización de la cuenta de capitalspa
dc.typearticleeng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaArtículospa
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