Banking 'development': the geopolitical–economy of infrastructure financing. Issue 3 (3rd July 2021)

• Record Type: Journal Article
• Authors: Anguelov, Dimitar
• Is Part Of: Area development and policy. Volume 6:Issue 3(2021)
• Page Start: 271
• Page End: 295
• Publication Date: 2021-07-03
• Subjects: geopolitical–economy -- infrastructure -- neoliberalism -- state-capitalism -- markets -- uneven development; 地缘政治经济;基础设施建设;新自由主义;国家资本主义;市场;不平衡发展; economía geopolítica -- infraestructura -- neoliberalismo -- capitalismo estatal -- mercados -- desarrollo desequilibrado; геополитическая экономика -- инфраструктура -- неолиберализм -- государственный капитализм -- рынки -- неравномерное развитие; Regional planning -- BRIC countries -- Periodicals; Economic development -- BRIC countries -- Periodicals; Rural-urban relations -- BRIC countries -- Periodicals; Human geography -- BRIC countries -- Periodicals; Regional planning -- Developing countries -- Periodicals; Economic development -- Developing countries -- Periodicals; Rural-urban relations -- Periodicals; Human geography -- Developing countries -- Periodicals; 338.90091724
• DOI: 10.1080/23792949.2020.1799717
• Languages: English
• ISSNs: 2379-2949

Abstract

ABSTRACT: In the post-2008 global economy, infrastructure development and financing have risen to the top of the development agenda, emerging as a contested field for global investments involving seemingly divergent interests, objectives, rationalities and practices. Whereas multilateral development banks such as the World Bank advocate the market-based public–private partnership aimed at attracting private finance and deepening marketized governance, China is forging a state-capitalist alternative through its Belt and Road Initiative (BRI). These models are far from mutually exclusive. Through a conjunctural approach, the paper examines the broader trade and financial interdependencies in which these models are entangled, and the geopolitical–economic objectives enframing the emergent infrastructure regime. These are explored vis-à-vis Indonesian infrastructure projects, framed by competition between China and Japan.