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Exporting stimulus and “shared prosperity†: Reinventing foreign aid for a retroliberal era

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  • Emma Mawdsley
  • Warwick E. Murray
  • John Overton
  • Regina Scheyvens
  • Glenn Banks

Abstract

The global aid world has changed, partly in response to the reconfigurations of geopolitical power and to the global financial crisis (GFC). Paradoxically, in the face of recession in most northern economies, collectively foreign aid contributions have not fallen. However there has been a qualitative shift in its narrative and nature. This new regime—which we term retroliberalism—projects the concept of “shared prosperity,†but constitutes a return to explicit self†interest designed to bolster private sector trade and investment. Drawing evidence from New Zealand and the United Kingdom, we argue that aid programmes are increasingly functioning as “exported stimulus†packages.

Suggested Citation

  • Emma Mawdsley & Warwick E. Murray & John Overton & Regina Scheyvens & Glenn Banks, 2018. "Exporting stimulus and “shared prosperity†: Reinventing foreign aid for a retroliberal era," Development Policy Review, Overseas Development Institute, vol. 36(S1), pages 25-43, March.
    • Handle: RePEc:bla:devpol:v:36:y:2018:i:s1:p:o25-o43
    DOI: 10.1111/dpr.12282
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    References listed on IDEAS

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    1. Owen Barder, 2005. "Reforming Development Assistance: Lessons from the UK Experience," Working Papers 70, Center for Global Development.
    2. Rosalind Eyben & Laura Savage, 2013. "Emerging and Submerging Powers: Imagined Geographies in the New Development Partnership at the Busan Fourth High Level Forum," Journal of Development Studies, Taylor & Francis Journals, vol. 49(4), pages 457-469, April.
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    4. Rosalind Eyben, 2013. "Struggles in Paris: The DAC and the Purposes of Development Aid," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 25(1), pages 78-91, February.
    5. Glenn Banks & Warwick Murray & John Overton & Regina Scheyvens, 2012. "Paddling on One Side of the Canoe? The Changing Nature of New Zealand's Development Assistance Programme," Development Policy Review, Overseas Development Institute, vol. 30(2), pages 169-186, March.
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    Cited by:

    1. Rerekura Teaurere & Siulua Tokilupe Latu & Roxane de Waegh & Mark Orams & Michael Lück, 2023. "Foreign aid, human agency, and self‐reliance in the Pacific: Lessons from the pandemic," Development Policy Review, Overseas Development Institute, vol. 41(S2), December.
    2. Gamze Erdem Türkelli, 2022. "Multistakeholder Partnerships for Development and the Financialization of Development Assistance," Development and Change, International Institute of Social Studies, vol. 53(1), pages 84-116, January.
    3. Muyang Chen, 2021. "China–Japan development finance competition and the revival of mercantilism," Development Policy Review, Overseas Development Institute, vol. 39(5), pages 811-828, September.

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