Back to the Iron Cage? Institutional Isomorphism of the AIIB

Jiejin Zhu, Xinyu Hu
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Abstract

During its first five years of operation, the Asian Infrastructure Investment Bank (AIIB) is becoming more and more similar to traditional Multilateral Development Banks (MDBs) in terms of operational goals, business area, and environmental and social standards. Why has the AIIB, the newest type of multilateral development bank (MDB) initiated by an emerging economy, undergone institutional isomorphism? Based on the socialization theory, this paper argues that the institutional environment in which the AIIB is operating has a strong influence on AIIB’s institution-building, mainly through the coercive, mimetic, and normative institutional isomorphic processes. On coercion, the pressures from European donors, international credit rating agencies, and global civil society have resulted in the AIIB’s institutional isomorphism. On mimicking, the social uncertainty of the relationship between the AIIB and the Belt and Road Initiative and the technical uncertainty of infrastructure projects have triggered the AIIB’s institutional isomorphism. On normativeness, the similar educational backgrounds and working experience of the AIIB’s staff and active interactions among the MDB family members have caused the AIIB’s institutional isomorphism. The paper concludes that the international institutional environment might hamper emerging economies’ capabilities of institutional innovation.
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回到铁笼?亚投行的制度同构
亚洲基础设施投资银行(亚投行)成立5年来,在业务目标、业务领域、环境和社会标准等方面与传统多边开发银行越来越接近。作为新兴经济体发起的新型多边开发银行,亚投行为何会出现制度同构现象?基于社会化理论,本文认为亚投行所处的制度环境主要通过强制性、模仿性和规范性的制度同构过程对亚投行的制度建设产生强烈影响。在胁迫方面,来自欧洲捐助者、国际信用评级机构和全球公民社会的压力导致了亚投行的机构同构性。在模仿上,亚投行与“一带一路”关系的社会不确定性和基础设施项目的技术不确定性引发了亚投行的制度同构。在规范性方面,亚投行工作人员的教育背景和工作经历相似,以及亚投行大家庭成员之间的积极互动,造成了亚投行的机构同构性。国际制度环境可能会阻碍新兴经济体的制度创新能力。
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来源期刊
CiteScore
1.30
自引率
33.30%
发文量
24
期刊介绍: The journal mission is to disseminate Russian and international research in global governance, international cooperation on a wide range of social and economic policies; as well as to create a professional framework for discussion of trends and prognoses in these areas. International Organisations Research Journal publishes academic and analytical papers of Russian and international authors on activities of international multilateral institutions: G8, G20, BRICS, OECD, the World Bank, IMF, WTO, UN, and alliances: European Union, Eurasian Economic Union, Shanghai Cooperation Organisation and others. Analytical and research papers on international cooperation in higher education, trends in higher education developments at the national, regional and global levels are welcomed for reviewing and publication. The journal is aimed at researchers, analysts, practitioners in international affairs and world economics and at a wide audience interested in political issues of international affairs and global development. IORJ supports publications of graduate and postgraduate students, young researchers in Russia and abroad. All IORJ publications are peer-reviewed.
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