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Explaining Institutional Change: Policy Areas, Outside Options, and the Bretton Woods Institutions

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  • Phillip Y. Lipscy

Abstract

I propose and test a theoretical framework that explains institutional change in international relations. Like firms in markets, international institutions are affected by the underlying characteristics of their policy areas. Some policy areas are prone to produce institutions facing relatively little competition, limiting the outside options of member states and impeding redistributive change. In comparison, institutions facing severe competition will quickly reflect changes in underlying state interests and power. To test the theory empirically, I exploit common features of the Bretton Woods institutions—the International Monetary Fund and World Bank—to isolate the effect of variation in policy area characteristics. The empirical tests show that, despite having identical membership and internal rules, bargaining outcomes in the Bretton Woods institutions have diverged sharply and in accordance with the theory.

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  • Phillip Y. Lipscy, 2015. "Explaining Institutional Change: Policy Areas, Outside Options, and the Bretton Woods Institutions," American Journal of Political Science, John Wiley & Sons, vol. 59(2), pages 341-356, February.
    • Handle: RePEc:wly:amposc:v:59:y:2015:i:2:p:341-356
    DOI: 10.1111/ajps.12130
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    1. repec:bla:glopol:v:8:y:2017:i:s5:p:51-61 is not listed on IDEAS
    2. Justus Dreyling, 2021. "Institutional Complexity and Opportunity Structures: Weaker Actor Influence in International Intellectual Property Regulation," Global Policy, London School of Economics and Political Science, vol. 12(S4), pages 37-46, May.
    3. Phillip Y. Lipscy, 2020. "How Do States Renegotiate International Institutions? Japan’s Renegotiation Diplomacy Since World War II," Global Policy, London School of Economics and Political Science, vol. 11(S3), pages 17-27, October.
    4. Klaus H. Goetz & Ronny Patz & Eugénia Heldt & Henning Schmidtke, 2017. "Measuring the Empowerment of International Organizations: The Evolution of Financial and Staff Capabilities," Global Policy, London School of Economics and Political Science, vol. 8, pages 51-61, August.
    5. Alexander Kentikelenis & Erik Voeten, 2021. "Legitimacy challenges to the liberal world order: Evidence from United Nations speeches, 1970–2018," The Review of International Organizations, Springer, vol. 16(4), pages 721-754, October.
    6. Matias E. Margulis, 2023. "Backdoor Bargaining: How the European Union Navigates the Food Aid Regime Complex," Politics and Governance, Cogitatio Press, vol. 11(2), pages 29-38.
    7. Kenneth W. Abbott & Benjamin Faude, 2022. "Hybrid institutional complexes in global governance," The Review of International Organizations, Springer, vol. 17(2), pages 263-291, April.
    8. Stephen Craig Nelson, 2016. "Ayse Kaya. 2015. Power and Global Economic Institutions," The Review of International Organizations, Springer, vol. 11(4), pages 523-527, December.
    9. Abbott, Kenneth W. & Faude, Benjamin, 2022. "Hybrid institutional complexes in global governance," LSE Research Online Documents on Economics 109882, London School of Economics and Political Science, LSE Library.
    10. Ala, Alessandro S. & Lapsley, Irvine, 2019. "Accounting for crime in the neoliberal world," The British Accounting Review, Elsevier, vol. 51(5).
    11. Alexander Thompson, 2020. "Emerging Powers and Differentiation in Global Climate Institutions," Global Policy, London School of Economics and Political Science, vol. 11(S3), pages 61-72, October.
    12. Henning Schmidtke, 2019. "Elite legitimation and delegitimation of international organizations in the media: Patterns and explanations," The Review of International Organizations, Springer, vol. 14(4), pages 633-659, December.
    13. Stephen, Matthew D., 2020. "China's new multilateral institutions: A framework and research agenda," Discussion Papers, Research Unit: Global Governance SP IV 2020-102, WZB Berlin Social Science Center.
    14. Lara Merling & Timon Forster, 2024. "Climate policy at the International Monetary Fund: No voice for the vulnerable?," Global Policy, London School of Economics and Political Science, vol. 15(3), pages 539-553, June.

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