Analysis and assessment of relation between international monetary ‎institutions and development (with emphasis on Iran)‎

The main issue of this paper is to explain the relationship between the prescriptive policies of international monetary and financial institutions, including the International Monetary Fund and the World Bank, with the realization of economic development in the countries. Theoretical analysis and empirical evidence implies that there is no positive relationship between these institutions and economic development, because firstly, prescriptive policies are aimed at universal and universal liberal policies, while these policies should be designed with consideration of indigenous institutional structures. Attention to the indigenous issues and requirements and the traditions and institutions of the countries have an impact on determining the successful pattern of its development and its success. Secondly, the role of the "developed government" has been neglected, and the duality of government/market have to be distinguished from the optimal combination of both for each country. Thirdly, only focused on the purely economic dimensions of development, while development is a multidimensional process whose main purpose is to improve the lives of humans. In spite of such reasons, which have caused the lack of development for the host countries of the regulatory policies of international monetary and financial institutions, the Islamic Republic of Iran has implemented these policies. The content analysis of the speeches of the Iranian decision-makers indicates that, the following steps will resolve the shortcomings and weaknesses of international financial and monetary institutions. The reform of the governance of the IMF and the World Bank; the weighting of governments along with the market and, finally, the consideration of the social and cultural requirements of host countries for development plans.