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Exporting stimulus and “shared prosperity†: Reinventing foreign aid for a retroliberal era

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  • Emma Mawdsley
  • Warwick E. Murray
  • John Overton
  • Regina Scheyvens
  • Glenn Banks

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.

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  • Emma Mawdsley & Warwick E. Murray & John Overton & Regina Scheyvens & Glenn Banks, 2018. "Exporting stimulus and “shared prosperity†: Reinventing foreign aid for a retroliberal era," Development Policy Review, Overseas Development Institute, vol. 36(S1), pages 25-43, March.
    • Handle: RePEc:bla:devpol:v:36:y:2018:i:s1:p:o25-o43
    DOI: 10.1111/dpr.12282
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    References listed on IDEAS

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    Cited by:

    1. Muyang Chen, 2021. "China–Japan development finance competition and the revival of mercantilism," Development Policy Review, Overseas Development Institute, vol. 39(5), pages 811-828, September.
    2. Rerekura Teaurere & Siulua Tokilupe Latu & Roxane de Waegh & Mark Orams & Michael Lück, 2023. "Foreign aid, human agency, and self‐reliance in the Pacific: Lessons from the pandemic," Development Policy Review, Overseas Development Institute, vol. 41(S2), December.
    3. Gamze Erdem Türkelli, 2022. "Multistakeholder Partnerships for Development and the Financialization of Development Assistance," Development and Change, International Institute of Social Studies, vol. 53(1), pages 84-116, January.

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