Alternative dispute resolution mechanisms and compliance in international financial institutions
Öztürk, Emine Nur
Çuhadar, Çerağ Esra
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The relationship between compliance, accountability and good governance is important in terms of the mission and role of International Organizations in global order. Although these concepts are closely related to each other, the existing literature focuses mostly on the key components of the good governance, accountability and compliance with an institution centric way. In general, relationship between compliance, accountability and good governance has been also discussed theoretically. To elaborate on these significant concepts in practice, this study investigates the role of Alternative Dispute Resolution (ADR) tools in dispute resolution as part of the compliance process in IFIs by examining the initiation, implementation and monitoring of the ADR tools in compliance and dispute resolution process. The IFIs use ADR tools in compliance review and dispute resolution as part of their accountability mechanism since ADR methods are effective tools to protect accountability of the IFIs by complying with international rules, standards and regulations including social and environmental standards. IFIs have also provided detailed information on how their ADR mechanisms work in their websites and reports. Multilateral Development Banks (MDBs) have reflected the importance of compliance review function for accountability mechanism. However, the role of ADR tools of different IFIs in compliance process has not been adequately analyzed. Considering this gap, the following research questions direct this study: How compliance processes have been initiated or conducted?, How results have been implemented?, How monitoring and evaluation of the implementation has been done? and (iv) What is the role of ADR tools in resolving the dispute?. By explaining the role of ADR tools in IFIs and selecting cases from IFIs, this study aimed to find answers for these questions which contributed to understand how compliance, accountability and good governance are related to each other in ADR mechanisms of the IFIs. Finally, the main findings of the study were reflected in conclusion section in relation to the role of the ADRs in compliance review and dispute resolution of the IFIs, which is in line with their forms, goals and missions addressing accountability and good governance.
Alternative Dispute Resolution (ADR)
International Financial Institutions (IFIs)