1st Edition

Financializations of Development Global Games and Local Experiments

    290 Pages 4 B/W Illustrations
    by Routledge

    290 Pages 4 B/W Illustrations
    by Routledge

    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.

    Introduction: Financializations of Development, Ève Chiapello, Anita Engels, Eduardo Gresse  Part I: Financing Development  1. Why development finance institutions are reluctant to invest in agriculture… And why they keep trying, Antoine Ducasteln, Magalie Bourblanc and Camilla Adelle  2. How Private Equity Turns Development Finance into a Market Opportunity, Océane Ronal  3. The Financialization of EU Development Policy, Luis Mah  4. Shifts and Hurdles in the Urbanization of Development Finance, Monika Grubbauer and Hanna Hilbrandt  5. The financialization of infrastructure in sub-Saharan Africa, Kate Bayliss and Elisa Van Waeyenberge  6. The Financialization of Sustainable Development Goals, Eduardo Gonçalves Gresse and Fernando Preusser de Mattos  7. Financial circuits of vaccine procurement in the era of global health, Véra Ehrenstein  8. Financialization in development projects and new modes of governance, Juliette Alenda-Demoutiez  Part II: Finance as Development  9. Financialization Through Payment Infrastructure, Marie Langevin, Andréanne Brunet-Bélanger and Sylvain A. Lefèvre  10. "Top up your healthcare access": mobile money to finance healthcare in sub-Saharan Africa, Marine Al Dahdah  11. Social Cash Transfers in sub-Saharan Africa: Financialization, Digitization and Financial Inclusion, Lena Sophia Gronbach  12. Conditional Cash Transfer Programs in Mexico, Magdalena Villarreal  13. From social workers to proxy-creditors to bank tellers: financialization in the work of microcredit field staff in a South Indian town, Rajalaxmi Kamath and Nithya Joseph  14. Financial literacy training in Cambodia as a tool to form borrowers’ subjectivities, Phasy Res  15. The financialization of the fight against poverty: from microcredit to social capitalism, Isabelle Guérin  16. Financializing development: Processes and Implications: Conclusion, Anita Engels, Eduardo Gresse and Ève Chiapello


    Ève Chiapello is Professor (Directrice d’Études) at EHESS (School for the Advanced Studies in Social Sciences), Paris, where she holds a chair on "the sociology of transformations of capitalism". Her present work is about the financialization of public policies, on which she has organized a series of international conferences with the University of Hamburg financed by the Anneliese Maier Research Award received in 2016 from the Alexander Von Humboldt Foundation. She is a member of CEMS (Centre d'Étude des Mouvements Sociaux - EHESS/CNRS- UMR 8044- INSERM U1276).

    Anita Engels is Professor of Sociology at the University of Hamburg. She has spent the past two decades working on climate change and social change, and has published extensively on the creation and dynamics of carbon markets, both in the European Union and in China. Her most recent work focusses on companies and their carbon management strategies, and on real-world laboratories. She is in the board of the Cluster of Excellence Climate, Climatic Change, and Society (CLICCS) at the University of Hamburg, Germany.

    Eduardo Gonçalves Gresse is a Postdoctoral Researcher at the Cluster of Excellence CLICCS, at the University of Hamburg, Germany. In his PhD (Sociology), he investigated the sense-making and the social engagement of non-state actors with the 2030 Agenda in Brazil. He is currently a co-editor of the Hamburg Climate Futures Outlook, an annual publication that introduces a new, interdisciplinary methodology to assess the plausibility of climate futures. His research interests include Sustainable Development Governance, Climate Futures and Brazilian studies.