Student Author Information

Hannah WolfFollow

Access Type

Campus Access Only

Presentation Type

Oral Presentation

Start Date

April 2019

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)

Sabita Manian, David Richards, Beth Savage

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Apr 10th, 10:15 AM

The Dangers of Lending an Economic Hand: Argentina, Mexico, the IMF, and the World Bank

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.