Rethinking Multilateralism in Foreign Aid: Beyond the Neoliberal Hegemony

Cover
Half Title
Series Page
Title Page
Copyright Page
Table of Contents
List of illustrations
List of contributors
1 Multilateralism and development aid: concepts and practices
	Introduction
	A very brief conceptualisation of multilateralism
	Bretton Woods multilateral
	The discourse
	Critiquing the Washington Consensus
	Conclusion
	References
2 Multilateralism, global development: unpacking the megatrends
	Introduction
	The Multilateral Development system
	Origins of the multilateral development system
	International development megatrends
	Evolving theories of development
		Marxist theory and development
		Modernisation theory and development
		Dependency theory of development
		Economic growth, liberal, and neoliberalist thinking
		Post-development,critical development, and decolonising discourse
	Conclusion
	References
3 Populism and a new world order
	Introduction
	A history of economic ideas
	Populism
	Institutions and institutional theory
	Conclusion
	References
4 Revisiting the Truman version of development and Eurafrica project of underdeveloping Africa
	Introduction
	The Truman version of development and underdevelopment in
Africa
	The Eurafrica project
	The World Trade Organisation’s role in global coloniality
	Why has development eluded Africa in the post-colonialera?
	The decolonial epistemic perspective as the future for Africa?
	References
5 Seventy-fiveyears of financing and advising development: perspectives on work of the Bretton Woods institutions and
Africa’s chequered development
	Situating the fund and the World Bank Group in historical
and hegemonic perspective
		Some elements of Gramsci’s hegemony
		The Fund and the World Bank in Africa’s development project
	World Bank and IMF ’s free-marketversion of development
and debt burden
	The Fund, World Bank, and poor advice
		The rise of the ‘South’ in development financing
	Conclusion
	References
6 The Washington Consensus and global civil society: the road traversed
	Introduction
	Global civil society in perspective
	A bit of history
	Global civil society and the early encounter with the World
Bank and IMF
	The real encounter – the Working Group with the Bank
	Global debt crisis, Heavily Indebted Poor Countries (HIPC)
and Poverty Reduction Strategy Papers (PRSPs)
	Global civil society today
	Conclusions
	References
7 Shifts in international development aid and their impact on 
economic growth
	Introduction
	Review of literature
	Preliminary data analysis
	Model and estimation results
		Model
	Conclusion
	Notes
	References
8 Multilateral development banks: Washington Consensus,
Beijing Consensus, or banking consensus?
	Introduction
	Washington, Beijing, or banking consensus?
	Development banks and financing infrastructure
	Development Bank of Latin America
	Islamic Development Bank
	Asian Infrastructure Investment Bank
	Conclusion
	Notes
	References
9 Rethinking global financial architecture: the case of BRICS
New Development Bank
	Introduction
	Rationale for the formation of the BRICS NDB
	Objectives and governance of the New Development Bank
	Capacity of the BRICS countries in managing the New
Development Bank
	Role of the NDB in the global financial architecture
	How the NDB can effectively bring about sustainable
development
	Conclusion
	References
10 The ADB and AIIB: cooperation, competition and
contestation
	Introduction
	The shared architectures of ADB and AIIB
		The ADB
		The AIIB
		A shared development vision
	ADB as knowledge-producer
	The geo-politicsand autonomy of ADB and AIIB
	Connectivity and harm
	Conclusion
	Notes
	References
11 The World Bank’s resilience discourse: reactive environmental norm diffusion and the crisis of global
climate governance
	Introduction
	The World Bank and the environment
	From sustainable development to resilience
	The World Bank’s resilience discourse
	Conclusion: reactive norm diffusion and the crisis of global
climate governance
	References
12 Challenging the hegemony of the Washington Consensus:the development potential of BRICS ‘from below’
	Introduction
	The new scholarship of BRICS
	Sustainable development and development finance
	Standing on our own two feet: the NDB and the end of
‘dollar hegemony’?
	Future benefits or ‘beggar-thy-neighbour’ – what has
happened to BRICS since 2014?
	Right-wingpopulism, the defeat of Lula and the PT, and the
burning of the Amazon rainforest
	BRICS from below?
	Technology, climate change, and alternatives: ‘a more
expansive and balanced global capitalism’
	In conclusion, a tentative optimism
	References
13 Multilateral foreign aid and the shadow of Cold War II
	Introduction
	The supremacy of the Bretton Woods institutions
	Bretton Woods Conference: A precursor to Cold War I
	Foreign aid as an instrument of Cold War I
	The Marshall Plan and the Molotov Plan
	Cold War I: a foreign aid perspective
	The World Bank: from Cold War Keynesianism to
neoliberalism
	Challenging the Washington Consensus multilateralforeign aid
		The challenge from within
		The challenge from without
	Towards Cold War II
	Conclusion
	References
14 A new ‘new’ multilateralism? The changing space of multilateralism in a contemporary development context
	Introduction
	The tangled web of neoliberalism, globalisation, and
multilateralism
	Neoliberalism and the crisis of development
	Old ‘new’ multilateralism
		Defenders of multilateralism
		Critiques of multilateralism
		New ‘new’ multilateralism
	Conclusion
	Note
	References
15 Competing multilateralisms: development aid under
scrutiny
	Introduction
	Geo-politicsand multilateralism in a multipolar world
		Geo-economicfactors shaping multilateralism
		Institutional capacity
		Multilateralism within 2030 agenda for sustainable development
		Conditionalities
	Conclusion
	References
Index