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


  • James Copestake

    (University of Bath, UK)


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.

Suggested Citation

  • James Copestake, 2010. "The global financial crisis of 2008-2009: an opportunity for development studies?," Journal of International Development, John Wiley & Sons, Ltd., vol. 22(6), pages 699-713.
  • Handle: RePEc:wly:jintdv:v:22:y:2010:i:6:p:699-713
    DOI: 10.1002/jid.1728

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    References listed on IDEAS

    1. Wood, Geof & Gough, Ian, 2006. "A Comparative Welfare Regime Approach to Global Social Policy," World Development, Elsevier, vol. 34(10), pages 1696-1712, October.
    2. James Copestake, 2008. "Wellbeing in international development: what's new?," Journal of International Development, John Wiley & Sons, Ltd., vol. 20(5), pages 577-597.
    3. Kanbur, Ravi & Sandler, Todd & Morrison, Kevin, 1999. "The Future of Development Assistance: Common Pools and International Public Goods," Staff General Research Papers Archive 1629, Iowa State University, Department of Economics.
    4. Fischer, A.M., 2010. "Is China turning Latin?," ISS Working Papers - General Series 19431, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    5. N/A, 2009. "On the Recession," Local Economy, London South Bank University, vol. 24(3), pages 253-253, May.
    6. 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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