International Financial Institutions and the Movement Toward Greater Accountability and Transparency: The Case of Legal Reform Programmes and the Problem of Evaluation

Abstract

Noting the importance of international financial law standards and domestic financial sector reform, the author considers how to evaluate the effectiveness and sustainability of the legal reform efforts of International Financial Institutions and other relevant institutional legal assistance providers, with a focus on the evaluation of legal technical assistance programs.

After providing an overview of evaluation research (including a discussion of models and types of evaluation) and historical background on development assistance evaluation and international programmes of legal reform, the author discusses the legal reform operations of the World Bank, the International Monetary Fund, the Asian Development Bank and a number of other development institutions. The author also suggests a comprehensive evaluation process for Legal Reform Programmes.

In concluding the article, the author draws together specific observations on International Financial Institutions and Legal Reform Programmes and more general observations on the issues of representation, transparency and accountability.