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IMPLICATIONS OF THE GLOBAL FINANCIAL CRISIS ON RELIEF NON-GOVERNMENTAL ORGANIZATIONS: THE CASE OF WORLD VISION KOREA

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Dedication ------------------------------------------------------------------------------------------- iv
Abstract----------------------------------------------------------------------------------------------- v
Acknowledgements -------------------------------------------------------------------------------- vii
Contents---------------------------------------------------------------------------------------------- ix

GENERAL INTRODUCTION

Introductory Note-------------------------------------------------------------------------------------1
Thesis Statement--------------------------------------------------------------------------------------3
Hypothesis---------------------------------------------------------------------------------------------3
Significance of Research---------------------------------------------------------------------------- 4
Research Objectives----------------------------------------------------------------------------------5 Research Problems -----------------------------------------------------------------------------------5
Research Questions ----------------------------------------------------------------------------------6
Research Design --------------------------------------------------------------------------------------6

CHAPTER ONE

THEORETICAL FRAMEWORK AND LITERATURE REVIEW

1.1 Theoretical Framework: Hegemonic Stability Theory------------------------------8

1.2 Historical Background of the Study--------------------------------------------------12
1.2.1 The Bretton Woods Institutions-----------------------------------------------12
1.2.2 Washington Consensus and Neoliberal Globalization Theory------------16
1.2.3 The Chicago School of Thought and Keynesianism------------------------20

1.3 The 2008 Financial Crisis-------------------------------------------------------------21
1.3.1 General Causes-------------------------------------------------------------------21
(a) The United States Housing Debt Bubble---------------------------------21
(b) Expansion of Debt and Speculation --------------------------------------24
(c) Financialization of Capital and Monopoly-Finance Capital ----------25
1.3.2 Other Causes, as per G-20 -----------------------------------------------------26

1.4 State Responses to the Financial Crisis----------------------------------------------28
1.4.1 Initial Response by US Government------------------------------------------28
1.4.2 G-20 Responses------------------------------------------------------------------29

1.5 Delimitation of the Study -------------------------------------------------------------31


CHAPTER TWO

NGO DEVELOPMENT AND RESOURCE MOBILIZATION: WORLD VISION KOREA

2.1 NGO Development: Organization Resource Mobilization Theory------------------------32
2.2 Organization and Mission, World Vision Korea --------------------------------------------39
2.2.1 Organization -------------------------------------------------------------------------------39
2.2.2 Mission Statement ------------------------------------------------------------------------40
2.2.3 Operational Framework, World Vision------------------------------------------------ 41

2.3 World Vision Korea as Non-State Actor -----------------------------------------------------43

CHAPTER THREE

IMPLICATIONS OF THE FINANCIAL CRISIS AND RELIEF ORGANIZATIONS

3.1 Implications to Developed Countries ---------------------------------------------------------46
(a) Implosion of Economic Activities ----------------------------------------------------47
(b) Soaring Unemployment ----------------------------------------------------------------48
(c) Distress in Finance Investment and Consumption --------------------------------- 48

3.2 Implications to Developing Countries --------------------------------------------------------49
(a) Shrunken Economic Growth ----------------------------------------------------------49
(b) Declining Remittances -----------------------------------------------------------------51
(c) Effects on Official Development Assistance ----------------------------------------52

3.3 Implications on Funding Strategy, World Vision Korea -----------------------------------54
3.4 Implications on Leadership Strategy, World Vision Korea ------------------------------- 56
3.5 Comparisons: Other Relief Organizations? Strategy --------------------------------------- 59
3.5.1 Oxfam Great Britain, Strategy----------------------------------------------------------60
3.2.2 World Vision USA, Strategy ---------------------------------------------------------- 61
3.5.3 Save the Children UK, Strategy------------------------------------------------------- 61

3.6 Opportunities offered by the Crisis -----------------------------------------------------------62


CHAPTER FOUR

CONCLUSION

Conclusion-------------------------------------------------------------------------------------------- 65
Recommendations----------------------------------------------------------------------------------- 71
References-------------------------------------------------------------------------------------------- 74






List of Figures

- Fig. 1.1 Frequency of Firms? Home Countries (International Ranking)------------10
- Fig. 1.2 Economic Growth Rates, developing and developed countries ----------- 19
- Fig. 1.3 Financial Stress in the Global Markets --------------------------------------- 19
- Fig. 1.4 Saving Pattern, USA (2000 - 2008)--------------------------------------------22
- Fig. 1.5 US Household Debt (1996 - 2006)-------------------------------------------- 23
- Fig. 2.1 NGO Participation at Selected Global Conferences ------------------------ 34
- Fig. 2.2 Organizational Structure, World Vision Korea ----------------------------- 42
- Fig. 2.3 NGO governance roles --------------------------------------------------------- 44
- Fig. 3.1 Real change in GDP (OECD & developed nations) ------------------------47
- Fig. 3.2 Debt-to-GDP ratio, developing countries (1997 ? 2007) -------------------49
- Fig. 3.3 Real GDP (2009), developing regions? growth forecasts ------------------ 50
- Fig. 3.4 Remittance flows to developing countries ----------------------------------- 51
- Fig. 3.5 Active individual donors, World Vision Korea ----------------------------- 55
- Fig. 3.6 Net Changes in Individual contribution, WV Korea------------------------ 55

List of Maps

- Map A, Program distribution in Korea by World Vision Korea --------------------40
- Map B, Spatial global distribution of operations by World Vision Korea--------- 41

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