Institutionalization of neoliberalism in the context of governance and glocalism: The World Bank

Since the 1970s, the global economic system has begun to be reshaped in the light of neoliberal policies, financialization has become pervasive and deepened with monetary economic practices that have replaced the Keynesian "Welfare State" approach. The transformation of the economic system has brought about a transformation at the institu-tional level. In the system where economic dependency increased especially through financialization, it was propounded necessary for the states to perform a structural chan-ge, and new governance models were put forward with practices such as localization and privatization in this direction. The World Bank is the central institution from which the roadmap of this process is created. In this context, the aim of the thesis is to reveal how the concepts of governance and glocalism as the implementation strategies of neo-liberal policies are institutionalized through the World Bank. In the process in question, the relationship between the transformation of nation states, especially in the field of sovereignty, and the World Bank practices has been focused. In the context of glocalism and governance, the consistency between the discourses and practices of the World Bank has been questioned. In the thesis in which the qualitative research method was used, the research data were obtained by the document analysis method. In this context, primary sources such as the founding agreement of the World Bank, annual reports, of-ficial statements of the president and senior management units were utilized. In the study, it was concluded that the centralized structures of nation states were eroded whi-le localization policies were implemented under the guidance of the World Bank, but the system built with global networks became increasingly centralized.