Oral Presentations
Location
Sydnor Performance Hall, Schewel Hall
Access Type
Campus Access Only
Entry Number
72
Start Date
4-10-2019 10:15 AM
End Date
4-10-2019 10:30 AM
College
Lynchburg College of Arts and Sciences
Abstract
The purpose of this thesis is to address the misconception that the Global North has a greater ability to solve the socioeconomic issues existing in the Global South (“Third World”). The global institutions within the Global North, such as the International Monetary Fund (IMF) and the World Bank, insist on neoliberalist and macroeconomic developments as the best solution to bringing countries out of debt or away from a fiscal downfall. The debt crisis in Argentina (1998-2002) and the financial crisis in Mexico (1994), also known as “The Tequila Crisis”, pose as two examples of the institutions’ inability to recognize the other aspects of society that need to be considered in order to improve a country’s overall economic global standing. The human security theory is inclusive of all dimensions of society: economic, health, personal, political, food, environmental, and community. This study highlights the need for all aspects of human development to be considered when attempting to improve a country’s economy; it takes more than improved economic statistics to assume a society’s well-being is improving. The study shows the need for reform in the methods used by global economic institutions based in the Global North, specifically the IMF and World Bank.
Faculty Mentor(s)
Dr. Sabita Manian Dr. David Richards Dr. Beth Savage
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The Dangers of Lending an Economic Hand: Argentina, Mexico, the IMF, and the World Bank
Sydnor Performance Hall, Schewel Hall
The purpose of this thesis is to address the misconception that the Global North has a greater ability to solve the socioeconomic issues existing in the Global South (“Third World”). The global institutions within the Global North, such as the International Monetary Fund (IMF) and the World Bank, insist on neoliberalist and macroeconomic developments as the best solution to bringing countries out of debt or away from a fiscal downfall. The debt crisis in Argentina (1998-2002) and the financial crisis in Mexico (1994), also known as “The Tequila Crisis”, pose as two examples of the institutions’ inability to recognize the other aspects of society that need to be considered in order to improve a country’s overall economic global standing. The human security theory is inclusive of all dimensions of society: economic, health, personal, political, food, environmental, and community. This study highlights the need for all aspects of human development to be considered when attempting to improve a country’s economy; it takes more than improved economic statistics to assume a society’s well-being is improving. The study shows the need for reform in the methods used by global economic institutions based in the Global North, specifically the IMF and World Bank.