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The private turn in development finance


  • Elisa Van Waeyenberge

    (SOAS University of London)


The last few decades have seen dramatic changes in development finance. These have been accompanied by a redefinition of the purpose of development cooperation. A strong belief in the potential of private flows to finance development has come to prevail and public or official flows have become increasingly deployed in support of private flows as the newly projected main source of development finance. This has specific implications regarding aid instruments, in particular through ‘blending’ and the attempt to rely increasingly on publicprivate partnerships. As aid and development cooperation become deployed increasingly to mobilize private finance, the core role of public finance for public goods is downplayed. This trend has accelerated as a result of the GFC with its specific implications for fiscal space to support ODA in developed economies. This Working Paper 140 is part of Deliverable D606 on the Financial Implications of the New Relationship between the EU and the Developing World.

Suggested Citation

  • Elisa Van Waeyenberge, 2016. "The private turn in development finance," Working papers wpaper140, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
  • Handle: RePEc:fes:wpaper:wpaper140

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    References listed on IDEAS

    1. Stephen Perkins, 2013. "Better Regulation of Public-Private Partnerships for Transport Infrastructure: Summary and Conclusions," International Transport Forum Discussion Papers 2013/6, OECD Publishing.
    2. Engel, Eduardo & Fischer, Ronald & Galetovic, Alexander, 2010. "The economics of infrastructure finance: Public-Private Partnerships versus public provision," EIB Papers 2/2010, European Investment Bank, Economics Department.
    3. Philippe Burger & Ian Hawkesworth, 2013. "Capital budgeting and procurement practices," OECD Journal on Budgeting, OECD Publishing, vol. 13(1), pages 57-104.
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    Official Development Assistance; development cooperation; blending; public private partnerships; Development Finance Institutions;

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