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Financialisation of official development assistance

Jakupec,V and Kelly,MM 2015, Financialisation of official development assistance, International journal of economics, commerce and management, vol. III, no. 2, pp. 1-18.

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Title Financialisation of official development assistance
Author(s) Jakupec,VORCID iD for Jakupec,V orcid.org/0000-0003-2657-5833
Kelly,MMORCID iD for Kelly,MM orcid.org/0000-0002-0036-5259
Journal name International journal of economics, commerce and management
Volume number III
Issue number 2
Start page 1
End page 18
Total pages 18
Publisher International Journal of Economics, Commerce and Management
Place of publication Rochester, Eng.
Publication date 2015-02
ISSN 2348-0386
Summary Official Development Assistance is a significant global enterprise. Organsiations engaged in funding and implementing ODA (the bilateral donors, multilateral organsiations such as the World Bank and IMF) have unprecedented political and economic influence over a large number of sovereign developing countries. This paper analyses if, and how financialisation impacts on development aid, and implications for effective aid policy agendas, drawing on and linking critical debate on finacialisation, and ODA. Subsequent to the Global Financial Crisis (GFC) and the persistence of the European Monitory Crisis (EMC), specific needs of developing countries became increasingly sub-ordinated to political and ideological power relations between ‘real’ economics and financial economics otherwise known as financialisation. The paper finds ‘financialisation’ as the ideological, political and economic catalyst for economic growth potentially confusing long-term development to combat poverty, and a short term need to overcome the lack of financial capacity in developing recipient countries. Sustainable economic development requires developing countries to forsake the pursuit of financialisation and to re-delineate their national finance, trade and investment regimes, and re-state it in a balanced manner as to take into account their unique economic development needs rather that the donor agencies’ demands and to advance their own ‘real’ economies.
Language eng
Field of Research 140202 Economic Development and Growth
Socio Economic Objective 910103 Economic Growth
HERDC Research category C2 Other contribution to refereed journal
Copyright notice ©2015, International Journal of Economics, Commerce and Management
Free to Read? Yes
Use Rights Creative Commons Attribution share alike licence
Persistent URL http://hdl.handle.net/10536/DRO/DU:30069698

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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.