Exporting stimulus and "shared prosperity": Reinventing foreign aid for a retroliberal era. (25th January 2018)

• Record Type: Journal Article
• Authors: Mawdsley, Emma; Murray, Warwick E.; Overton, John; Scheyvens, Regina; Banks, Glenn
• Is Part Of: Development policy review. Volume 36(2018:Mar.)Supplement 1
• Page Start: O25
• Page End: O43
• Publication Date: 2018-01-25
• Subjects: DFID -- international aid -- New Zealand -- NZAID -- ODA -- retroliberalism -- shared prosperity United Kingdom; Developing countries -- Economic policy -- Periodicals; Economic assistance -- Developing countries -- Periodicals; Technical assistance -- Developing countries -- Periodicals; 338.91
• DOI: 10.1111/dpr.12282
• Languages: English
• ISSNs: 0950-6764

Abstract

Abstract: The global aid world has changed, partly in response to the reconfigurations of geopolitical power and to the global financial crisis (GFC). Paradoxically, in the face of recession in most northern economies, collectively foreign aid contributions have not fallen. However there has been a qualitative shift in its narrative and nature. This new regime—which we term retroliberalism—projects the concept of "shared prosperity, " but constitutes a return to explicit self‐interest designed to bolster private sector trade and investment. Drawing evidence from New Zealand and the United Kingdom, we argue that aid programmes are increasingly functioning as "exported stimulus" packages.