Defining, censuring, and resolving: the EBRD, collective organic intellectuals and the global financial crisis in Eastern Central Europe

Abstract

ABSTRACTThe paper asks what role the European Bank for Reconstruction and Development (EBRD) plays in coordinating policy reform in post-crisis Eastern Central Europe (ECE). How did the EBRD attempt to mitigate the effects of the crisis and what role did the institution play in the configuration of a post-crisis European political economy? The paper analyses the content of the annual EBRD Transition Reports (TR) as representation of thinking in the EBRD Chief Economist’s Office on the salient concerns relevant to its region of operations. The paper analyses TRs from 2007 to 2013 assessing the discursive shifts inside the EBRD establishing (1) how the TRs frame whether the region is in crisis, (2) apportioning censure for causing crisis and (3) how the EBRD TRs delineate the development of appropriate policy responses to the crisis. In conclusion the paper situates these processes as evidence of a further iteration of ‘fail forwards’ neoliberalization.