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The global financial crisis of 2008-2009: an opportunity for development studies?

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  • James Copestake

    (University of Bath, UK)

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    Abstract

    This paper draws upon the five other papers presented in this volume, along with other presentations made at the 2009 Development Studies Association Conference, to reflect on the relationship between development studies and the 2008-2009 global financial crisis. It first analyses antecedents to the crisis by relating the papers presented by Gore (on long waves of capitalism) and Fischer (on China's integration into the world economy) to a Polanyian analysis. It then considers immediate policy responses with particular reference to India (based on the conference presentation by Mehrotra), China (based on the paper by de Haan) and the 2009 DFID White Paper. Third, it considers two possible additional sources of finance for developing countries: South Korean aid (discussed by Chun et al.) and new forms of international money (discussed by Hudson). The paper concludes that while the crisis is a reminder of structural global economic interconnectedness a challenge for development studies is to combine this fact with analysis that is also interdisciplinary, multi-tiered and policy relevant. Copyright © 2010 John Wiley & Sons, Ltd.

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    File URL: http://hdl.handle.net/10.1002/jid.1728
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    Bibliographic Info

    Article provided by John Wiley & Sons, Ltd. in its journal Journal of International Development.

    Volume (Year): 22 (2010)
    Issue (Month): 6 ()
    Pages: 699-713

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    Handle: RePEc:wly:jintdv:v:22:y:2010:i:6:p:699-713

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    Web page: http://www3.interscience.wiley.com/journal/5102/home

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    1. Kanbur, Ravi & Sandler, Todd & Morrison, Kevin, 1999. "The Future of Development Assistance: Common Pools and International Public Goods," Staff General Research Papers 1629, Iowa State University, Department of Economics.
    2. Fischer, A.M., 2010. "Is China turning Latin? China’s balancing act between power and dependence on the wave of global imbalances," ISS Working Papers - General Series 496, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    3. James Copestake, 2008. "Wellbeing in international development: what's new?," Journal of International Development, John Wiley & Sons, Ltd., vol. 20(5), pages 577-597.
    4. Wood, Geof & Gough, Ian, 2006. "A Comparative Welfare Regime Approach to Global Social Policy," World Development, Elsevier, vol. 34(10), pages 1696-1712, October.
    5. Simon Maxwell, 2009. "Eliminating World Poverty: Building Our Common Future," Development Policy Review, Overseas Development Institute, vol. 27(6), pages 767-770, November.
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