Visualizing Uncertainties, or How Albert Hirschman and the World Bank Disagreed on Project Appraisal and Development Approaches
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World Bank, Washington, DC
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Since its birth in 1944, the World Bank
has had a strong focus on development projects. Yet, it did
not have a project evaluation unit until the early 1970s. An
early attempt to conceptualize project appraisal had been
made in the 1960s by Albert Hirschman, whose undertaking
raised high expectations at the Bank. Hirschman's
conclusions -- published first in internal Bank reports and
then, as a book in 1967 -- disappointed many at the Bank,
primarily because they found it impractical. Hirschman
wanted to offer the Bank a new vision by transforming the
Bank's approach to project design, project management
and project appraisal. What the Bank expected from
Hirschman, HOWEVER, was not a revolution but an examination
of the Bank's projects and advice on how to make
project design and management more measurable, controllable,
and suitable for replication. The history of this failed
collaboration provides useful insights on the unstable
equilibrium between operations and evaluation within the
Bank. In addition, it shows that the Bank actively
participated in the development economics debates of the
1960s. This should be of interest for development economists
today who reflect on the future of their discipline
emphasizing the need for a non-dogmatic approach to
development. It should also be of interest for the Bank
itself, which is stressing the importance of evaluation for
effective development policies. The history of the practice
of development economics, using archival material, can bring
new perspectives and help better understand the evolution of
this discipline.
Palabras clave
AGRICULTURE, AID, AID PROGRAMS, ASSETS, BANK OFFICERS, BEST PRACTICES, CENTRAL PLANNING, COLLECTIVE, COMPARATIVE ANALYSIS, COMPREHENSIVE STRATEGIES, CORPORATION, COST ANALYSIS, DEVELOPED COUNTRIES, DEVELOPMENT AGENCIES, DEVELOPMENT BANKS, DEVELOPMENT ECONOMICS, DEVELOPMENT FINANCE, DEVELOPMENT INSTITUTIONS, DEVELOPMENT ISSUES, DEVELOPMENT PATTERNS, DEVELOPMENT POLICIES, DEVELOPMENT POLICY, DEVELOPMENT PROJECTS, DEVELOPMENT STRATEGIES, DEVELOPMENT THEORIES, DEVELOPMENT THEORY, DISTRIBUTION OF WEALTH, ECONOMIC ANALYSIS, ECONOMIC CRITERIA, ECONOMIC DEVELOPMENT, ECONOMIC EFFICIENCY, ECONOMIC GROWTH, ECONOMIC HISTORY, ECONOMIC RESEARCH, ECONOMIC STRUCTURE, ECONOMICS, ENTREPRENEURSHIP, EQUALITY, ETHNIC GROUPS, HISTORY OF ECONOMIC THOUGHT, HOUSING, INDIVIDUALS, INDUSTRIALIZATION, INFLATION, INITIATIVE, INTERNATIONAL DEVELOPMENT, INVESTIGATION, INVESTIGATIONS, JOINT VENTURE, LESS DEVELOPED COUNTRIES, LIMITED, MANAGERS, MIGRATION, MODERNIZATION, NATIONAL GOVERNMENT, NATURAL RESOURCES, PER CAPITA INCOME, POLITICAL ECONOMY, PROFITABILITY, PUBLIC UTILITIES, RESOURCES DEVELOPMENT, ROAD TOLLS, SHADOW PRICES, SOCIETY, TELECOMMUNICATIONS, TRANSPORT, UNDERDEVELOPMENT, UNITED NATIONS DEVELOPMENT PROGRAMME, WEALTH, WELFARE ECONOMICS