The evolution of the World Bank and IMF policies: An evaluation on Turkey

Abstract

The World Bank and IMF are organizations established to help develop nations that have experienced post-war devastation. During the years of its establishment, the World Bank provided the necessary development support to countries within the framework of statist policies. The IMF, on the other hand, provided the countries with the necessary support with short-term policies. But with the 1980s, a change in policy began to occur in the two institutions. This change brought the two institutions closer together and led them to cooperate. Turkey has also benefited from the policies of these two institutions in the process of policy evolution experienced by the IMF and the World Bank. The aim of this study is to show that the policies of the World Bank and IMF are changing with the liberalization after 1980. In addition, it is to express that the cooperation policies made by the IMF and the World Bank have also been formed along with the change in question. In this context, the evolution of the World Bank and IMF's policies, their cooperation and how Turkey was affected by the changing policies of these two institutions were revealed.