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The Development Business

A History of the Commonwealth Development Corporation

  • Authors
  • Michael McWilliam

Table of contents

  1. Front Matter
    Pages i-xvii
  2. A Will to Succeed 1948–62

    1. Front Matter
      Pages 1-1
    2. Michael McWilliam
      Pages 3-10
    3. Michael McWilliam
      Pages 11-25
    4. Michael McWilliam
      Pages 26-35
    5. Michael McWilliam
      Pages 36-53
    6. Michael McWilliam
      Pages 54-62
    7. Michael McWilliam
      Pages 63-65
  3. An Agency for Development 1963–79

    1. Front Matter
      Pages 67-67
    2. Michael McWilliam
      Pages 68-74
    3. Michael McWilliam
      Pages 75-85
    4. Michael McWilliam
      Pages 86-112
    5. Michael McWilliam
      Pages 113-116
  4. Making a Business of Development 1980–93

    1. Front Matter
      Pages 117-117
    2. Michael McWilliam
      Pages 119-128
    3. Michael McWilliam
      Pages 129-132
    4. Michael McWilliam
      Pages 133-136
    5. Michael McWilliam
      Pages 137-142
    6. Michael McWilliam
      Pages 143-154
    7. Michael McWilliam
      Pages 155-164
    8. Michael McWilliam
      Pages 165-177
    9. Michael McWilliam
      Pages 178-202
    10. Michael McWilliam
      Pages 203-211
  5. Reinventing CDC 1994–99

    1. Front Matter
      Pages 213-213
    2. Michael McWilliam
      Pages 215-219
    3. Michael McWilliam
      Pages 220-225
    4. Michael McWilliam
      Pages 226-231
    5. Michael McWilliam
      Pages 232-241
    6. Michael McWilliam
      Pages 242-246
    7. Michael McWilliam
      Pages 247-255
  6. Back Matter
    Pages 256-296

About this book

Introduction

The Commonwealth development Corporation (CDC) was launched with all-party support as one of the initiatives to build a better post-war world. After a troubled start it earned its role as Britain's development agency. The chairmanship of Lord Reith in the 1950s left a legacy of robust independence within the public sector framework. Few public sector businesses escaped privatisation by the Conservative Governments of the 1980s and 1990s, yet CDC was exempted. The first privatisation announcement of the New Labour Government in 1997 was in respect of CDC and enabling legislation has since been passed to provide for a long-term public-private partnership. The compatibility of a continuing development role with meeting the requirements of investors is still controversial as CDC adapts its operations to those of a private equity fund for emerging economies. Sir Michael McWilliam has written a study of institutional transformation that reflects changing perceptions of the role of development agencies. His membership of the CDC Board and access to its records give authority to this appraisal and to the discussion of the proposed privatisation.

Keywords

bank business development merger organization private equity strategy

Bibliographic information

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