Global economic governance and the regional development banks
The regional development banks (RDBs) are a diverse set of global institutions, varying in membership, size and function. This chapter examines the place of the RDBs in global economic governance by considering the key players, power, and paradigms. It describes the historical contexts of the major RDBs and explains their place in global economic governance. Following this, attention is given to the internal governance of the RDBs to explore the formal rules used to determine the policies and lending practices of the RDBs. The chapter addresses the role that the bureaucracies play. Next, ideational aspects of the RDBs are surveyed, with emphasis on the codification of good governance and the creation of accountability agencies. Finally, the chapter briefly reflects on the response of each bank to the 2007–2008 financial crisis in the context of an evolving world political economy.