The Role of Multilateral Institutions in Accelerating Globalization The World Bank, International Monetary Fund and World Trade Organization have distinctively increased interconnectivity and interdependence of economies of the entire world. These institutions influence the direction of globalization through enacting global role and undertaking various roles. These roles increased the likelihood of convergence of world economies. These organizations are formulated with the objective of serving several social, political and economic issues of all economies in the world.

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