The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

World Bank

  • Albert Fishlow
Reference work entry


The World Bank, established in 1944, remained an important source of funding for developing countries generally through the early 1990s. Then an impressive increase in private flows reduced its overall significance. What remained was technical assistance on the one hand, and continued increasing credits of the International Development Association to the lowest income countries on the other. Despite criticism from both by the Right and the Left, the World Bank has survived, and has given voice to rising concerns about highly unequal distributions of income in the developing world, moving away from its earlier emphasis upon economic growth alone.


Conditionality Free trade International Bank for Reconstruction and Development International Development Association International Finance Corporation International Monetary Fund Marshall Plan Non-governmental organizations Poverty alleviation Privatization Structural loans World Bank World Trade Organization 

JEL Classifications

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Albert Fishlow
    • 1
  1. 1.