World Bank Decision-making Mechanism

Since the establishment of Bretton Woods Institutions, the World Bank has always been dominated by the few large share-holding nations, developing nations have long been excluded by the decision-making system of World Bank. With the advent of the economic globalization, the inadequacy of global economic governance has become more and more serious. Developing nations have been persistently requiring the reform of decision-making mechanism of World Bank to realize universal participation, democracy and the rule of law in the decision- making process of World Bank.Through a thorough investigation of the elements of decision-making mechanism of World Bank, this thesis evaluates the allocation of quota and votes, Bretton Woods Formula, majority voting and the organizational structure of World Bank. This thesis elaborates different views concerning the reform of decision-making mechanism of World Bank, and discusses the collaboration between World Bank and UN in the light of economic globalization. Finally, several suggestions of the decision-making reform of World Bank are proposed.The decision-making mechanism of international organization can be roughly generalized into two aspects: decision-making organs and decision-making rules. The first aspect answers the"Who decides"question, the later aspect solves the"How to decide"question.Decision-making organ majorly concerns the organizational structure of international organization, mainly the composition of decision-making body, the election of the president, and, the legislative body and other managerial level.The rules of decision-making include the allocation of votes and the rules of voting, the former aspect concerns the philosophy of allocation of votes, the later aspect concerns the extent to which a particular bill should be passed, suspended or blocked.The general structure of decision-making mentioned above can also be exhibited in World Bank's decision-making structure, for this part, please refer to: Chapter four: the decision-making structure of World Bank, mainly, the Executive Board and the Presidency of World Bank, their constitutional obligation, and potential influence in decision-making. Chapter three: the rules of voting-special majority voting. This chapter...