The quest for rejuvenated legitimacy: The rise and protracted demise of the IMF as a global actor

Özet: Kilit bir Bretton Woods kuruluşu olarak İkinci Dünya Savaşı'ndan bu yana küresel yönetişim mimarisinin merkezinde bulunan IMF sürekli eleştirilerin odağında bulunmuştur. Son zamanlarda akademik ve politik çevrelerde kurumun derin bir "meşruiyet krizi" yaşamakta olduğuna dair genel bir kanı oluşmuştur. Bu çalışmada IMF 'ye klasik Bretton Woods ve ekonomik küreselleşme rejimlerinde biçilen küresel misyonlar, Fon'un küresel güçlerle özel ilişkileri ile kurumsal meşruiyet ve politika güvenilirlik kaynaklarındaki erozyon değerlendirilmektedir. IMF'nin küresel bir kriz yöneticisi konumundaki düşüş, son dönemlerdeki krizler ışığında yorumlanmaktadır. Çalışmanın temel tezi, Fon'un meşruiyet açığının kapatılması için köklü yönetim reformlarına ihtiyaç bulunduğu yönündedir ve bu doğrultuda somut önerilerde bulunulmaktadır.

Yenilenmiş Meşruiyet Arayışı: Küresel Bir Aktör Olarak IMF'nin Yükseliş ve Gecikmeli Düşüşü

The IMF, which stood at the helm of the global financial architecture since the end of the Second World War as a key Bretton Woods institution, has been a consistent locus of criticism. Recently, there seems to be general consensus in academic and policy-based circles that the Fund is suffering from a deep nlegitimacy crisis". In this study, the respective global missions assigned to the Fund under the classical Bretton Woods and economic globalization regimes, its peculiar relationship with major global powers, the substantial erosion in the sources of its institutional legitimacy and policy credibility are evaluated. The declining capacity of the IMF to act like a global crisis manager is assessed in the light of recent crises. The main thesis is the study is that profound governance reforms are needed to restore the legitimacy of the Fund, towards which several concrete proposals are specified.

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