Financializations of Development brings together cutting-edge perspectives on socio-political, socio-historical and institutional analyses of the evolving multiple and intertwined financialization processes of developmental institutions, programs and policies.
In recent years, the development landscape has seen a radical transformation in the partaking actors, which have moved beyond just multilateral or bilateral public development banks and aid agencies. The issue of financing for sustainable development is now at the top of the agenda for multilateral development actors. Increasingly, development institutions aim to include private actors and to lever in private money to support development projects. Drawing on case studies conducted in Africa, Asia, Europe and Latin America, this book examines the ways in which these private finance actors are enrolled and associated with the conception and implementation of development policies. Beginning with a focus on global actors and private foundations, this book considers the ways in which development funding is raised, managed and distributed, as well as debates at the center of global forums where financialized policies and solutions for development are conceived or discussed. The book assembles empirical research on development programs and demonstrates the social consequences of the financializations of development to the people on the ground.
Highlighting the plurality of processes and outcomes of modern-day relations, tools, actors and practices in financing development around the world, this book is key reading for advanced students, researchers and practitioners in all areas of finance, development and sustainability.
Author(s): Ève Chiapello, Anita Engels, Eduardo Gonçalves Gresse
Series: Routledge Explorations in Development Studies
Publisher: Routledge
Year: 2023
Language: English
Pages: 290
City: London
Cover
Half Title
Series Page
Title Page
Copyright Page
Table of Contents
List of Figures
List of Tables
Acknowledgments
Foreword
List of Acronyms and Abbreviations
List of Contributors
Introduction: Financializations of Development
Part I: Financing Development
1 Why Development Finance Institutions are Reluctant to Invest in Agriculture… And why they Keep Trying: The Financialization of Development Policies as an Obstacle to Invest in Agriculture
2 How Private Equity Turns Development Finance into a Market Opportunity
3 The Financialization of EU Development Policy: Blended Finance and Strategic Interests (2007–2020)
4 Shifts and Hurdles in the Urbanization of Development Finance: The Case of the World Bank’s City Creditworthiness Initiative
5 The Financialization of Infrastructure in Sub-Saharan Africa
6 The Financialization of Sustainable Development Goals
7 Financial Circuits of Vaccine Procurement in the Era of Global Health
8 Financialization in Development Projects and new Modes of Governance: The Case of Development Impact Bonds
Part II: Finance as Development
9 Financialization through Payment Infrastructure: The Philanthrocapitalism of the Mastercard Foundation
10 “Top up your Healthcare Access”: Mobile Money to Finance Healthcare in Sub-Saharan Africa
11 Social Cash Transfers in Sub-Saharan Africa: Financialization, Digitization and Financial Inclusion
12 Conditional Cash Transfer Programs in Mexico: Financial Inclusion Policies and the Involvement of Private Finance Actors
13 From Social Workers to Proxy-Creditors to bank Tellers: Financialization in the work of Microcredit Field Staff in a South Indian Town
14 Financial Literacy Training in Cambodia as a tool to form Borrowers’ Subjectivities
15 The Financialization of the Fight Against Poverty: From Microcredit to Social Capitalism
16 Financializing Development: Processes and Implications
Index
