Abstract
Development financed projects have a unique institutional context for the production of economic activities since accountability is enacted neither directly through the state nor the market. Most development finance institutions (DFIs) enjoy hybrid public-private status and weak lines of accountability to their underwriting Treasuries (Bracking, 2003). The market environment of DFI projects is also concessionary, without the accountability of competition, where often the participant companies are part of a small group of internationally networked enterprises, with close relations with contracting parties within the DFIs. This closed culture of large business enterprise is somewhat cronyistic, promoting a similar business culture in aid dependent countries, which resonates and reinforces historical and structural patterns of political economy in post-colonies (Bracking, 2006), often contributing to an enclave structure (see Mhone, 2001).
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Bayart, J-P., Ellis, S., and Hibou, B. (1999), The Criminalisation of the State in Africa, Oxford: James Currey Press for the International African Institute
Bracking, S. (1997), ‘Expanding markets and regulating dependency under structural adjustment: business and the case of Zimbabwe from 1991’, University of Leeds, Ph.D
Bracking, S. (1999), ‘Why structural adjustment isn’t necessary and why it does work’, in Review of African Political Economy, vol. 26, no. 80, pp. 207–26
Bracking, S. (2001) ‘The Lesotho Highlands Corruption Trial: Who has been air-brushed from the dock?’ vol. 28, no. 88 of the Review of African Political Economy, June, pp. 302–08
Bracking, S. (2003), ‘Regulating capital in accumulation: negotiating the imperial “frontier”’, in Review of African Political Economy, Spring, vol. 30, no. 95, pp. 11–33
Bracking, S., (2005) ‘Development Denied: autocratic militarism in post-election Zimbabwe’, Review of African Political Economy, 32, 104/5, 341–57
Bracking (2006), ‘Contemporary political economies of sub-Saharan Africa: the post-colonial legacy of multiple narratives’, Afriche e Orienti, Special Issue II, Occidente e Africa: Democrazia e nazionalismo dalla prima alla seconda tran-sizione, pp. 85–102
Caltex (2003), ‘The power and the glory’ at www.caltex.com/magazine/articel_power_and_glory.htm
Castree, N. (2004), ‘Economy and culture are dead! Long live economy and culture!’, in Progress in Human Geography, vol. 28, no 2, pp. 204–26
Chabal, P. and Daloz, J-P. (1999), Africa Works: Disorder as Political Instrument, Oxford: James Currey for the International African Institute
Commission on Africa (2005), Our Common Interest: a Report of the Commission for Africa, Commission for Africa
Commonwealth Development Corporation (1992), Annual Report, London
Commonwealth Development Corporation (2005), ‘Making Commercial Sense of Development’, in Emerging Markets Report, Issue 2, October
Cornerhouse (2004), Submission by the Corner House to the ECGD Consultation on Changes to ECGD’s Anti-Bribery and Corruption Procedures Introduced in December 2004
Danby, C. (2002), ‘The curse of the modern: a post-Keynesian critique of the gift/exchange dichotomy’, in Social Dimensions in the Economic Process, 21, pp. 13–42
Department of Trade and Industry (1994), in House of Commons (HC) (1994) Trade and Industry Committee, Fourth Report, Trade with Southern Africa, Vol. II, Memoranda of Evidence, London HMSO, no. 220-II
ECA Watch (2006), ‘Export Credit Agencies Explained’, available from www.eca-watch.org/eca/ecas_explained.html accessed on 20 December
ECGD (2006), ECGD’s 2005 Sustainable Development Action Plan, available from www.ecgd.gov.uk/sd_action_plan_2005.pdf accessed on 19 December 2006
Gallagher, M. (1991), Rent-seeking and Economic Growth in Africa, Boulder/Oxford, Westview Press
Granovetter, M. (1985). ‘Economic action and social structure: the problem of embeddedness’, American Journal of Sociology, 91: 481–510
Gudeman, S. (1986), Economics as culture: models and metaphors of livelihood, London; Routledge
Hansard, (2005), Written Answers 27 January, pt. II
Heymans, C. and Lipietz, B. (1999), Corruption and Development: Some Perspectives, Monograph No. 40, September 1999, Institute for Security Studies, available from www.iss.co.za/Pubs/Monographs/No40/ConseptualIssues.html
Hildyard, N. (2000), UK’s role in promoting corruption, cronyism and graft, The Corner House, October 23 accessed at www.probeinternational.org/pi/od/index.cfm?DSP=content&ContentID=1439) on 3 July 2001
HC (1994), Trade and Industry Committee, Fourth Report, Trade with Southern Africa, Vol. II, Memoranda of Evidence, London HMSO, no. 220-II
HC (1994b), Trade and Industry Committee, Fourth Report, Trade with Southern Africa, Minutes of Evidence, 15 June, no. 220-IV
International Development Committee (2001), Corruption, Fourth Report, 4 April, HC 39-I Report and Proceedings of the Committee, and HC-39 II Minutes of Evidence and Appendices, accessed at www.publications.parliament.uk/pa/cm/cmintdev.htm 20 June 2001
International Development Committee (1999), The Export Credits Guarantee Department — Development Issues, First Report, 20 December, HC 73
International Rivers Network (2000), ‘LHWP: What Went Wrong?’ Presentation to Chatham House Conference, July 10 2000, ‘Corruption in Southern Africa — Sources and Solutions’, by Nicholas Hildyard available from www.irn.org/programs/lesotho/index.php7id=chatham.01.html
Keenan, J. (2005), ‘Chad-Cameroon Pipeline: World Bank and ExxonMobil in ‘Last Chance Saloon’’ in Review of African Political Economy, 104, 5, 395–477
Kothari, U. (2005), ‘Authority and Expertise: the professionalisation of International Development and the Ordering of Dissent’, Antipode, 37 (3), pp. 425–46
Médard, J-F. (1995), ‘La corruption politique et administrative et les différenciations du public et du privé: une perspective comparative’, in Borgi, M. and Meyer-Bisch, P. (eds) La corruption ou Venvers des droits de l’homme, Editions Universitaires, Fribourg, Suisse, pp. 37–46
Mhone, G. (2001), Labour Market Discrimination and its Aftermath in Southern Africa, United Nations Research Institute for Social Development, Conference Racism and Public Policy, Durban, 3–5 September
Michael, B. (2004) ‘What Do African Donor-sponsored Anti-corruption Programmes Teach Us about International Development in Africa?’ in Social Policy and Administration, 38, 4, 320–45
Moore, D. S. (2005), Suffering for Territory: Race, Place, and Power in Zimbabwe, Weaver Press, Harare
OECD (2005), Guaranteeing Development? The Impact of Financial Guarantees, by James Winpenny, Development Centre of the Organisation for Economic Cooperation and Development
OECD (2005b), ‘Experts’ Workshop: Governance-Investment Interactions in Developing Countries’, available at www.oecd.org/document/49/0,2340,en_2649_33731_35553521_1_1_1_1,00.html
Pinaud, N. (2005), ‘Public-Private Dialogue in Developing Countries: Risks and Opportunitites’, Working Paper, OECD Development Centre, pp. 1–4
Polanyi, K. (2001) The Great Transformation: the Political and Economic Origins of Our Time, Beacon Press, Boston, 1st pub. 1944
Polanyi, K. (1968), ‘The Economy as Instituted Process’, in Economic Anthropology E. LeClair, H. Schneider (eds) New York; Holt, Rinehart and Winston
Polzer, T. (2001), Corruption: Deconstructing the World Bank Discourse, Destin, Working Paper Series, no. 01–18, London School of Economics
Pottinger, L. (2005) ‘Lesotho Highlands Water Project: Corruption and Impoverishment’ in In Large Dams and the OECD, ECA Watch, available from www.eca-watch.org/problems/dams/ECAW_trojan_horse_report_2sept05.html accessed on 20 December 2006
Prattis, J. I. (1982), ‘Synthesis, or a New Problematic in Economic Anthropology’, Theory and Society 11: 205–28
Ranis, G. (1997), ‘The World Bank Near the Turn of the Century’ in Culpeper, R., Berry, A. and Stewart F. (eds) Global Development Fifty Years after Bretton Woods, London, Macmillan
Repetti, M. (2002), ‘Social Relations in Lieu of Capital’ in Social Dimensions in the Economic Process, 21, 43–59
Saxton, J. (1999), ‘Can IMF Lending Promote Corruption?’, Vice Chairman, Joint Economic Committee, United States Congress, pp. 1–8, available from www.house.gov/jec/imf/corrupt.htm accessed on 20 December 2006
Schmitz, G. J. (1995), ‘Democractization and Démystification: Deconstructing “Governance” as Development Paradigm’ in Moore, D. B. and Schmitz, G. J. (eds) Debating Development Discourse: Institutional and Popular Perspectives, London, Macmillan
Wallerstein, I. (1999) Historical Capitalism with Capitalist Civilisation, London, Verso
World Aid Section (WAS) (1991) European Community-Funded Aid Projects in Developing Countries: Consultancies, compiled by the UK Permanent Representation to the European Communities, January, EDF 08
Editor information
Editors and Affiliations
Copyright information
© 2007 Sarah Bracking
About this chapter
Cite this chapter
Bracking, S. (2007). Accountability in Development Finance Projects: Between the Market and a Soft Place. In: Bracking, S. (eds) Corruption and Development. Palgrave Studies in Development. Palgrave Macmillan, London. https://doi.org/10.1057/9780230590625_13
Download citation
DOI: https://doi.org/10.1057/9780230590625_13
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-35769-7
Online ISBN: 978-0-230-59062-5
eBook Packages: Palgrave Social & Cultural Studies CollectionSocial Sciences (R0)