BRETTON WOODS INSTITUTIONS HAVE NO ALTERNATIVE: DOES THE ASIAN INFRASTRUCTURE INVESTMENT BANK THREATEN TO THE EXISTING INTERNATIONAL FINANCIAL INSTITUTIONS?

Dragičević Ognjen (Ognjen Dragičević, student doktorskih studija politikologije, međunarodne i evropske studije na Fakultetu političkih nauka, Univerzitet u Beogradu), dragichevic.ognjen@gmail.com

This article is dedicated to the research of the thesis that the Asian Infrastructure Investment Bank (AIIB) represents a threat to Bretton Woods Institutions and their partners. The author highlights in this article the four key arguments why he rejects the aforementioned thesis. These arguments are related to the purpose/competences, the capacities of these institutions, motives for the establishment of the AIIB as well as similar experiences in the establishment of the BRICS’s New Development Bank. In other words, the author\'s intent is to point out that because of different purpose/ competence, the AIIB cannot be compared to IMF. Also, because of the smaller capacity, lack of experience and the risk of the political influence of the main principals, the AIIB is not a relevant threat/competitor to the World Bank.

Keywords: The Asian Infrastructure Investment Bank; The International Monetary Fund, The World Bank, International financial system, economic growth, development, economic interests.