IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxivy2021i4p486-505.html
   My bibliography  Save this article

Implications for Economic Security of the Three Seas Initiative Countries Resulting from Membership in the World Bank

Author

Listed:
  • Marta Halina Gebska

Abstract

Purpose: The objective of the article is to present research results on the interdependencies between the World Bank (WB) and the Three Seas Initiative (3SI) in the area of economic security of the countries. Design/Methodology/Approach: The Three Seas Initiative (3SI) was launched in 2015 in New York during the United Nations General Assembly, and it officially started operating in 2016. The World Bank is a global financial institution seated in 1944 and its constant objective is to support member states in order to create conditions for safe and long-term development. Mainly historical and current analysis source documents, including the WB and 3SI reports and strategies, are the research methods and materials used for this paper. They have been utilised as the theoretical foundations for this discussion. These have been complemented with additional references in order to deepen the theoretical considerations contained herein. Additionally, the paper considers sources related to current problems and the WB's theoretical approach to COVID-19. Other research methods include a comparative analysis of statistical data, the inductive method for general statements development, and the study of cause-and-effect relationships between the discussed phenomena. Findings: The 3SI countries are not high-ranked by the WB. Greater opportunities to influence the WB policy are related to the fact that these countries belong to the European Union. The WB has already been involved in financing investment projects in the countries of this region, in most cases since the 1990s. This activity has been designed to improve the economic security of the countries and their population. Practical implications: The paper presents possibilities of cooperation of both parties – the 3SI countries and the WB in the area of economic security, both in the times of stable economic situation and in economic crises such the global pandemic SARS-CoV-2.

Suggested Citation

  • Marta Halina Gebska, 2021. "Implications for Economic Security of the Three Seas Initiative Countries Resulting from Membership in the World Bank," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 486-505.
    • Handle: RePEc:ers:journl:v:xxiv:y:2021:i:4:p:486-505
    as

    Download full text from publisher

    File URL: https://www.ersj.eu/journal/2602/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. de Haan, Jakob & Sturm, Jan-Egbert, 2017. "Finance and income inequality: A review and new evidence," European Journal of Political Economy, Elsevier, vol. 50(C), pages 171-195.
    2. Haugland, Torleif & Ingeberg, Kjetil & Roland, Kjell, 1997. "Price reforms in the power sector : The World Bank's role," Energy Policy, Elsevier, vol. 25(13), pages 1041-1049, November.
    3. Jacques J. Polak, 1996. "The Contribution of the International Monetary Fund," History of Political Economy, Duke University Press, vol. 28(5), pages 211-224, Supplemen.
    4. Nele Matz, 2005. "Financial Institutions between Effectiveness and Legitimacy – A Legal Analysis of the World Bank, Global Environment Facility and Prototype Carbon Fund," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 5(3), pages 265-302, September.
    5. Michael Clemens and Michael Kremer, 2016. "The New Role of the World Bank - Working Paper 421," Working Papers 421, Center for Global Development.
    6. Hillman, Arye L., 2002. "The World Bank and the persistence of poverty in poor countries," European Journal of Political Economy, Elsevier, vol. 18(4), pages 783-795, November.
    7. Michael A. Clemens & Michael Kremer, 2016. "The New Role for the World Bank," Journal of Economic Perspectives, American Economic Association, vol. 30(1), pages 53-76, Winter.
    8. Baneth, Jean, 1983. "The role of the world bank as an international institution Comment on the Krueger paper," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 18(1), pages 313-323, January.
    9. Shineng Hu, 2021. "Refining El Niño projections," Nature Climate Change, Nature, vol. 11(9), pages 724-725, September.
    10. Nellis, John & Kikeri, Sunita, 1989. "Public enterprise reform: Privatization and the World Bank," World Development, Elsevier, vol. 17(5), pages 659-672, May.
    11. Robert Osei-Kyei & Albert P. C. Chan, 2021. "Risk Assessment of Public-Private Partnership Projects," Springer Books, in: International Best Practices of Public-Private Partnership, chapter 0, pages 71-89, Springer.
    12. Jim Hoover & UFO Project Team, 2021. "The UFO Project: Initial Survey Results," Foresight: The International Journal of Applied Forecasting, International Institute of Forecasters, issue 60, pages 45-48, Winter.
    13. Axel Michaelowa & Katharina Michaelowa, 2011. "Climate business for poverty reduction? The role of the World Bank," The Review of International Organizations, Springer, vol. 6(3), pages 259-286, September.
    14. Boockmann, Bernhard & Dreher, Axel, 2003. "The contribution of the IMF and the World Bank to economic freedom," European Journal of Political Economy, Elsevier, vol. 19(3), pages 633-649, September.
    15. Krueger, Anne O., 1983. "The role of the world bank as an international institution," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 18(1), pages 281-311, January.
    16. Kathleen Beegle & Luc Christiaensen, 2019. "Accelerating Poverty Reduction in Africa [Accélérer la réduction de la pauvreté en Afrique]," World Bank Publications - Books, The World Bank Group, number 32354.
    17. Ramizo, Godofredo Jr, 2021. "Practical Lessons for Government AI Projects," SocArXiv ka5vd, Center for Open Science.
    18. Jakob Haan & Regina Pleninger & Jan-Egbert Sturm, 2022. "Does Financial Development Reduce the Poverty Gap?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 161(1), pages 1-27, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dang, Hai-Anh H. & Serajuddin, Umar, 2020. "Tracking the sustainable development goals: Emerging measurement challenges and further reflections," World Development, Elsevier, vol. 127(C).
    2. Daoud, Adel & Reinsberg, Bernhard & Kentikelenis, Alexander E. & Stubbs, Thomas H. & King, Lawrence P., 2019. "The International Monetary Fund’s interventions in food and agriculture: An analysis of loans and conditions," Food Policy, Elsevier, vol. 83(C), pages 204-218.
    3. Knack,Stephen & Parks,Bradley Christopher & Harutyunyan,Ani & DiLorenzo,Matthew, 2020. "How Does the World Bank Influence the Development Policy Priorities of Low-Income and Lower-Middle Income Countries ?," Policy Research Working Paper Series 9225, The World Bank.
    4. Ferreira, Francisco H. G., 2022. "The analysis of inequality in the Bretton Woods institutions," LSE Research Online Documents on Economics 116018, London School of Economics and Political Science, LSE Library.
    5. Barhoom Faeyzh, 2023. "Revisiting the Financial Development and Income Inequality Nexus: Evidence from Hungary," Acta Universitatis Sapientiae, Economics and Business, Sciendo, vol. 11(1), pages 227-257, October.
    6. William Perraudin & Andrew Powell & Peng Yang, 2016. "Multilateral Development Bank Ratings and Preferred Creditor Status," IDB Publications (Working Papers) 94656, Inter-American Development Bank.
    7. V. Antropov V. & В. Антропов В., 2019. "Многосторонние банки развития в мировой экономике: особенности деятельности и перспективы сотрудничества с Россией // Multilateral Development Banks in the World Economy: Business Specifics and Prospe," Экономика. Налоги. Право // Economics, taxes & law, ФГОБУ "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 12(1), pages 98-109.
    8. Ileana Daniela Serban & Ani Harutyunyan, 2021. "The European Union as an International Donor: Perceptions from Latin America and the Caribbean," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 33(6), pages 1820-1839, December.
    9. Cole,Shawn Allen & Melecky,Martin & Molders,Florian & Reed,Tristan, 2020. "Long-run Returns to Impact Investing in Emerging Market and Developing Economies," Policy Research Working Paper Series 9366, The World Bank.
    10. Perraudin, William & Powell, Andrew & Yang, Peng, 2016. "Multilateral Development Bank Ratings and Preferred Creditor Status," IDB Publications (Working Papers) 7686, Inter-American Development Bank.
    11. Richard Clark & Lindsay R. Dolan, 2021. "Pleasing the Principal: U.S. Influence in World Bank Policymaking," American Journal of Political Science, John Wiley & Sons, vol. 65(1), pages 36-51, January.
    12. M. Rodwan Abouharb & Erick Duchesne, 2019. "Economic Development and the World Bank," Social Sciences, MDPI, vol. 8(5), pages 1-30, May.
    13. Michael Kremer & Jack Willis & Yang You, 2021. "Converging to Convergence," NBER Chapters, in: NBER Macroeconomics Annual 2021, volume 36, pages 337-412, National Bureau of Economic Research, Inc.
    14. Tsuchiya, Yoichi, 2023. "Assessing the World Bank’s growth forecasts," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 64-84.
    15. Briggs, Ryan C., 2018. "Poor targeting: A gridded spatial analysis of the degree to which aid reaches the poor in Africa," World Development, Elsevier, vol. 103(C), pages 133-148.
    16. Radike, Monika & Zuromskis, Tadas, 2023. "Lithuanian physicians practising abroad: Reasons to leave and conditions to return to Lithuania. A survey," Health Policy, Elsevier, vol. 128(C), pages 75-83.
    17. Hannah C. Gabriel, 2024. "Bankruptcy and international intervention: The case of Addiko bank," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 32(1), pages 339-357, January.
    18. Siniša Vuković & Giovanna Maria Dora Dore & Guadalupe Paz, 2024. "Emerging trends in peacebuilding: The case of Colombia," Global Policy, London School of Economics and Political Science, vol. 15(S3), pages 5-13, June.
    19. Selim Jahan, 2017. "Human Development Report 2016 - Human Development for Everyone," Working Papers id:12021, eSocialSciences.
    20. Fuchs, Andreas & Dreher, Axel & Hodler, Roland & Parks, Bradley C. & Raschky, Paul, 2015. "Aid on Demand: African Leaders and the Geography of China s Foreign Assistance," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112838, Verein für Socialpolitik / German Economic Association.

    More about this item

    Keywords

    Economic security; The World Bank; Three Seas Initiative; poverty; international political economy.;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:xxiv:y:2021:i:4:p:486-505. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.