International finance capital and African development: 1980-2001, 2009

Harris, Kelly

2000-2009

This dissertation examines how the change in the international economy away from manufacturing to finance has affected African development. The dominance of financial liberalization is obvious to most observers; however, discourse on the development of African economies since 1980 generally focuses on the primary lending institutions (the IMF and World Bank). This dissertation is really an attempt to create a narrative about the rejection of alternative forms of development and subsequent implementation of rieoliberal policies. African countries rushing pell-mell to privatize, democratize, and implement all things neoliberal, crystallizes the sterile nature of alternatives to financial liberalization. Much of the discussion surrounding strategies for development remain grounded in previous notions of how countries develop, the stages of development, and generally how countries can develop their infrastructure. While all of these have salience, it does not quite capture the essence of how the world has been transformed. It is no longer possible or sensible to discuss African development without understanding the role of international finance capital. Development cannot simply be understood by bargaining with foreign companies and attracting FDI. To be sure, that is not the only aspect of development but one that was heavily emphasized just fifteen to twenty years ago. The present global economic recession provides a perfect example of how important international finance capital, in this case derivatives, are so important to the international economy. Now we must understand derivatives and how this financial tool became so dominant in the international market economy.

text

application/pdf

2009-07-01

dissertation

Doctor of Philosophy (PhD)

Clark Atlanta University

School of Arts and Sciences, Political Science

Gibrill, Hashim
Ledgister, Fragano
Khadalie, Modibo

Clark Atlanta University

Georgia--Atlanta

http://hdl.handle.net/20.500.12322/cau.td:2009_harris_kelly