... distressed financial institutions, in part a reflection ofthe large number of
financial institutions in these countries at the start ofthe crisis.
Regarding the unconditional probability of closure, ... Asia financial crisis a good event to investigate the role of these connections in
causing and resolving financial institutions’ distress. Furthermore, the general causes of
the East Asian financial ... identified as
one ofthe following: i) the financial institution was closed; ii) the financial institution
was merged with another financial institution;
10
iii) the financial institution was
recapitalized...
... considerations
were at the heart ofthe formation of a semi-professional rugby league
in the north of England in 1895.
54
Given the class dimensions ofthe
game inthe Australian context (described ... certainty. Even the indigenous
game of Australian Rules football, widely acknowledged as having its
roots inthe games played inthe parklands of Melbourne during the
late 1850s, suffers in ... overused, then the problem
becomes exacerbated and the credibility ofthe discipline, and the
authenticity ofthe histories being written, is threatened.
12
Such an outlook reflects much ofthe historiography...
... all the great meanings ofthe modern
age, from the Enlightenment to now, ofhuman progress and the civil-
ising mission ofhuman intervention. After the eclipsing ofthe socialist
project inthe ... illustrate the inequities of the
trading system, the persistence of unequal exchange, the myths
surrounding the benevolence of aid, phantom aid and the degree of
capital flight and brain drain afflicting ... modernisa-
tion and, in highlighting the poverty ofthe mainstream, offers critical
insight into the theoretical perspectives that help explain global injustice
and thepolitical and social forces...
... power inthe academic literature of
international politicaleconomy has allowed neoliberalism to remain
the dominant ideology of international development theory and for
the Great Predators ofthe ... means of this account, introduces the reader to the
contours ofthepoliticaleconomyof development and the institutional
regime within which ‘creditor states’
13
compete and co-operate in the
extension ... inthepolitical economy
of development
Various factors have been included in analysis ofthe increased impov-
erishment ofthe poorer world inthe last quarter century or so: declines
in commodity...
... how the
divide between the global haves and have-nots is maintained; the
technical slights of hand are the implementing policy machine of the
politicaleconomyof development. It is worth looking ... banks. They exist at the ‘commanding heights’ (Arrighi 1994: xii),
in the boardroom ofthe global economy, and their relatively small
number explains in part both the herd behaviour of investors ... to undermine the critique of global
power to which the international worker and social movement is
inclined. It is the ‘gift from the American people’ stamped on the bag
of corn inthe television...
... senior official inthe CDC in
1993, referring to the case of Kenya, noted that the CDC would take
investment decisions:
by understanding thehuman nature of these people, how they
are moving and the ... politicians, rather than looking at
computer figures. So I think there is a lot of, in this business of
investing in developing countries, there is an awful lot of
experience, that comes in.
(Interview, ... disbursements by using
financing through the IDA to pay the IMF! Indeed, Oxfam cite the shock-
ing statistic that, inthe case of Zambia during the late 1990s, ‘well over
half ofthe finance provided...
... to
collectivise the control over independent African countries’ reintegra-
tion into the world economy, with the CDC acting as the chair of the
‘committee managing the common affairs ofthe whole bourgeoisie’, ... Marx. The CDC was in co-operation with the World Bank as
early as 1950 inthe co-financing ofthe Kariba Dam project inthe then
Central African Federation, ‘much the largest single CDC investment
at ... the Corporation with:
the duty of securing the investigation, formulation and
carrying out of projects for developing resources of colonial
territories with a view to the production therein of...
... institu-
tions ofthe British state and an account ofthe changing role ofthe CDC
in managing investment and liquidity. The case study shows how one
dominant core lender inthe global interstate ... problem of distance is at the centre ofthepolitical and cultural
problem of relational poverty. As Mayer summarises, again in terms of
the HIV/AIDS pandemic:
the real problem remains one ofpolitical ... by
the collectivisation ofthe management of development finance and the
socialisation of risk inthe markets ofthe South, emerged.
This chapter has given an historical review ofthe frontier institu-
tions...
... grown in absolute terms, but also the
process of multilateralisation of aid finance which took place in the
years following the onset ofthe debt crisis inthe context of a drop-
ping off of private ... Of
course, there is another economyin Africa which is informal and
possible quite large, but the official one reviewed here shows
increasing inequality and income poverty for the majority. Adding in
to ... perceived:
a decline inthe presence of UK-based companies inthe supply
of goods for projects financed by the Bank. This is usually an
indication that the manufacturing base ofthe supply country...
... appoints the Supervisory
Board and the Managing Director. Needs Danish co-investor.
Swedfund Wholly state-owned Sweden At the end of Representatives ofthe Ministry of Finance and the Ministry of ... billion (an increase of £4.9 billion on
the amount invested in 2005), contributing to an International Invest-
ment Position (the overall level of foreign direct investment) at the
end of 2006 of £734.7 ... expressed by transferring
resources overseas, rather than the reality of a situation where the
flow is inthe other direction in terms of many ofthe poorest coun-
tries and is inthe UK’s favour overall....
... we
measuring?
In the last three chapters we have examined profitability within the
politicaleconomyof aid, both in and of itself in chapter 7 (through
direct contracts), and then in terms ofthe ... sector, illustrating well the role of DFIs in
providing institutions and structures for the export, and then recy-
cling, of finance capital from the core states. In Ghana the CDC worked
in collaboration ... little about the contribution of aid to wellbeing.
Quite simply, the wrong things are being measured, proceeding from a
misleading representation ofthe benevolence of aid. The mainstream
focus...
... thesis about the meaning of power, in 2.
The experience ofthe poor has contradicted the discursive meanings
given to DFIs within the dominant ideology ofthe age; that is, the
discourse of modernist ... face of soaring prices. The non-oil producing countries
with the lowest incomes will pay most, and the poorest people within
them are the last in line. For these people there are no luxuries in their
budgets, ... growth.
4
Instead the concern here
is that inthe process of ‘giving aid’ inthe system we have at the
moment, the opportunities to do these types of things may be fore-
closed, or the effect of doing...
... their inherited ways
of thinking and doing. Because of this, and because of what they do,
the institutions ofthe development age have become critically
constrained in their ability to sell the ... to the poor, while simultaneously pursuing the export of
capital from the North and the reconstruction of Northern power and
privilege. The nightmare ofthe past inthe everyday lives ofthe ... ‘big’
players, they are not, at the time of writing, having a decisive role in
(re)setting the rules ofthe game (yet).
3. According to the Economist (2008), the governments of Singapore, Kuwait
and...