Finance for Development 3

Type: Paper
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Poster #:
Day: 4/5/2019
Start / End Time: 1:10 PM / 2:50 PM
Room: Capitol Room, Omni, East
Organizers: Adam Dixon, Ilias Alami, Emma Mawdsley
Chairs: Ilias Alami

Description

The realm of international development is in a period of turbulent change. Neo-mercantilist and geopolitical considerations are being re-centred in donor strategies, in a context of a rapidly changing development landscape, and the partial fracturing of the North-South axis that historically framed mainstream development imaginaries and interventions. At the same time, a growing number of countries across the income spectrum have established state-sponsored strategic investment funds with a domestic development mandate to co-invest with private partners and other sovereign entities, bringing the tools of modern finance into contemporary industrial policy-making (e.g. India’s National Infrastructure Investment Fund’s USD 1 billion investment agreement with the Abu Dhabi Investment Authority). Conventional development institutions have, for their part, re-centred private sector-led economic growth in their narratives, policies and partnerships, and signalled a move from ‘foreign aid’ to ‘development finance’. The growing buzz has been around drawing in vastly bigger financial resources by using overseas development assistance (ODA) to catalyse and leverage private sector investment on a massive scale. The financing slogan of the Sustainable Development Goals is ‘from billions to trillions’, and is predicated precisely on a world ‘beyond aid’. This deepening and expanding of finance and financial markets in the name of development entails partnerships with actors that were not traditionally involved in development finance, such as hedge funds, venture capital, investment banks, credit rating agencies, global accountancy firms, and financial intermediaries. These trends have occurred at the same time as incredible expansion in financial instruments, practices, and programs targeting individuals, households and small-and-medium enterprises across the Global South, and in the management of land, nature, infrastructure, land and energy.


Agenda

Type Details Minutes Start Time
Presenter Silvia Grandi*, University of Bologna, Frontiers of finance for development in landscape of international cooperation development policies: Beyond ODA? 20 1:10 PM
Presenter Adam Dixon*, Maastricht University, Ilias Alami, Maastricht University, Financializing the state for development? Critiquing the scope and limits of sovereign development funds 20 1:30 PM
Presenter Emma Mawdsley*, University of Cambridge, Luis Mah, University of Lisbon, Elsje Fourie, University of Maastricht, Yang Jiang, DIIS, Soyeun Kim, Sogang University, Geoeconomics and global development: the role of Development Finance Institutions 20 1:50 PM
Presenter Dimitar Anguelov*, UCLA, The geopolitical economy of infrastructure financing: state-led and market-based entanglements in Indonesia 20 2:10 PM
Discussant Michael Samers University Of Kentucky 20 2:30 PM

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