The Evolution of Operational Policies and Procedures at International Financial Institutions: Normative Significance and Enforcement Potential

40 Pages Posted: 7 Jun 2011

See all articles by Daniel Bradlow

Daniel Bradlow

University of Pretoria - Centre for Human Rights; American University - Washington College of Law

Andria Naude Fourie

Erasmus University Rotterdam (EUR) - Erasmus School of Law

Date Written: April 6, 2011

Abstract

The exact contours of international organizations’ (IO) responsibility have not yet been clearly defined. While IOs – and international financial institutions (IFIs) in particular – have in the past avoided drawing those contours in more certain terms, this position is slowly changing: IFIs have been changing expectations about their standards of conduct, as reflected in their evolving operational policies and procedures (OP&P). This report provides an overview of the content, formulation, adoption, amendment and enforcement of OP&P at multilateral development banks (MDB) (a subset of IFIs). It highlights the impact of three developments that are strengthening the normative significance and enforcement potential of the OP&P, namely: broadening stakeholder participation in OP&P revision processes; ‘hardening’ or legalization of OP&P through the compliance procedures of independent accountability mechanisms (IAM) – now widely established at MDBs; and the emerging enforcement potential of the IAMs.

Keywords: international organizations, international law

JEL Classification: F33, K33

Suggested Citation

Bradlow, Daniel David and Naude Fourie, Andria, The Evolution of Operational Policies and Procedures at International Financial Institutions: Normative Significance and Enforcement Potential (April 6, 2011). Available at SSRN: https://ssrn.com/abstract=1858897 or http://dx.doi.org/10.2139/ssrn.1858897

Daniel David Bradlow (Contact Author)

University of Pretoria - Centre for Human Rights ( email )

Private Bag X20
Hatfield 0028
Pretoria
South Africa

American University - Washington College of Law ( email )

International Legal Studies Program
4801 Massachusetts Avenue N.W.
Washington, DC 20016
United States
202-274-4205 (Phone)
202-274-4116 (Fax)

HOME PAGE: http://www.wcl.american.edu/faculty/bradlow/index.

Andria Naude Fourie

Erasmus University Rotterdam (EUR) - Erasmus School of Law ( email )

3000 DR Rotterdam
Netherlands

Register to save articles to
your library

Register

Paper statistics

Downloads
134
Abstract Views
900
rank
211,635
PlumX Metrics