Policing the banks [[electronic resource] ] : accountability mechanisms for the financial sector / / Maartje van Putten

• Record Nr.: UNINA9910789853903321
• Autore: Putten Maartje van <1951->
• Pubbl/distr/stampa: Montréal [Québec], : McGill-Queen's University Press, c2008
• ISBN: 0-7735-8516-8; 1-282-86709-1; 9786612867095; 0-7735-7665-7
• Descrizione fisica: 1 online resource (517 p.)
• Disciplina: 354.8/628
• Soggetti: Banks and banking, International; Investments, Foreign - Developing countries; Private banks - Developing countries; Social responsibility of business - Developing countries; Investments, Foreign - Social aspects; Investments, Foreign - Environmental aspects
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Nota di bibliografia: Includes bibliographical references (p. [467]-480) and index.
• Nota di contenuto: Globalization and the Rise of Accountability Mechanisms -- The World Bank and the History of Accountability -- Inception of the World Bank Inspection Panel, Its Mandate, and Its Structure -- Accountability Mechanisms in Other Multilateral Financial Institutions -- Accountability for the Private Financial Sector -- The Daily Work of an Accountability Mechanism -- Results of an International Survey -- A Swan Song and a Major New Development : Conclusions and Recommendations for Future Mechanisms -- Appendices:1 Resolution Establishing the World Bank Inspection Panel -- 2 The Equator Principles II, July 26 -- 3 Background Interviews -- 4 Experts Who Contributed to the Study Notes.
• Sommario/riassunto: Describing how formerly secretive financial institutions have been slow to accept responsibility for the consequences of their investments - especially the problems that can result from projects in developing ; countries - she shows that financing institutions can cause significant social and environmental damage and argues that new accountability mechanisms are necessary to reduce or prevent such damage. Because such institutions operate on a global scale, only semi-judicial accounting mechanisms can provide the necessary accountability. It is time for the private financial sector to follow multilateral financial institutions in creating independent mechanisms, mediation procedures, and access to decision makers for people harmed or potentially harmed by projects financed by their institutions.