This chapter extends well beyond outlining the Multilateral Development Banks' (MDBs) governance systems. It presents the importance and specifics of MDBs' governance, highlighting the main differences among Global, Regional, and Sub-regional institutions. By dissecting multiple layers of complex multilateral governance, the authors reveal a legacy of often outdated written and unwritten practices. They also review the multiple challenges of established governance models, as well as the insufficient efforts to mitigate governance deficiencies through repetitive counterproductive reforms. The conclusion calls for a rigorous assessment and reshaping of MDBs' governance, through forward-looking innovation and new principles, developed further in Chap. 5.
- Arslan, Volkan. 2011. The Analysis of the Representation and Governance Structures of the International Financial Institutions and Their Constituencies. Treasury Expert Thesis, Undersecretariat of Treasury General Directorate of Foreign Economic Relations.Google Scholar
- BCBS. 2013. Principles for Effective Risk Data Aggregation and Risk Reporting. Basel Committee on Banking Supervision, (Progress Report 2015).Google Scholar
- ———. 2015. Guidelines: Corporate Governance Principles for Banks. Basel: Basel Committee on Banking Supervision, Bank for International Settlements. https://www.bis.org/bcbs/publ/d328.pdf.
- Bissell, Richard, and Suresh Nanwani. 2008. Multilateral Development Bank Accountability Mechanisms: Developments and Challenges. Central European Journal of International and Security Studies (CEJISS). http://www.cejiss.org/static/data/uploaded/13835988693526/bissell-nanwani_multilateral_development_bank.pdf.
- Buira, Ariel. 2000. Reforming the Governance of the Bretton Woods Institutions in Financing for Development. Proceedings of a Workshop of the G-24 (Published by the OPEC Fund for International Development).Google Scholar
- Caliari, Aldo, and Frank Schroeder. 2002. Reform Proposals for the Governance Structures of IFIs, A New Rules for Global Finance Briefing Paper. New York: Friedrich Ebert Foundation. http://library.fes.de/pdf-files/iez/global/02057.pdf.
- Carter, Colin, and William Lorsch. 2003. Back to the Drawing Board: Designing Corporate Boards for a Complex World. Cambridge, MA: Harvard Business School Press.Google Scholar
- Higgs, Derek. 2003. Higgs Report on Non-Executive Directors: Summary Recommendations. http://www.berr.gov.uk/files/file 23012.pdf.
- MDB Evaluation Cooperation Group (ECG). 2012. Big Book on Evaluation Good Practice Standards. https://www.ecgnet.org/document/ecg-big-book-good-practice-standards.
- OECD. 2011. OECD Guidelines for Multinational Enterprises. Paris: OECD. http://mneguidelines.oecd.org/guidelines/.
- ———. 2015. G20/OECD Principles of Corporate Governance. Paris: OECD. https://doi.org/10.1787/9789264236882-en.
- S&P Global Ratings. 2017. Supranationals, Special Edition, 2017. https://www.spratings.com/documents/20184/908545/US_SR_Event_Webcast_MultilateralNov17_Article2.pdf/fc892865-5302-4dd6-93ca-8469c8752818.
- The Committee on the Financial Aspects of Financial Governance and Gee and Co. Ltd. 1992. Report of the Committee on Financial Aspects of Corporate Governance, London.Google Scholar
- World Bank. 2003. World Bank Operations Evaluation Department: The First 30 Years. The World Bank. https://openknowledge.worldbank.org/handle/10986/15128.