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Advancing Financialization through Development Cooperation: An Analysis of the European Union’s New Investment & Growth Strategies in Africa

Prättälä, Nea LU (2020) STVK12 20201
Department of Political Science
Abstract
Early 2020 saw the publishing of the European Union’s new Africa Strategy. With a focal point on fostering economic growth, the strategy coalesces around increasing the confidence of international financiers to partake in investing into Africa. This thesis operationalises a framework on financialization to critically investigate ways in which the EU’s investment-led strategy advances financialization. Through qualitative content analysis, the thesis further delineates and critically appraises the underlying rationales of this new strategy that is operationalised by the Directorate-General for International Cooperation & Development. The thesis concludes that this strategic policy is dictated by financial motives and displays little concern... (More)
Early 2020 saw the publishing of the European Union’s new Africa Strategy. With a focal point on fostering economic growth, the strategy coalesces around increasing the confidence of international financiers to partake in investing into Africa. This thesis operationalises a framework on financialization to critically investigate ways in which the EU’s investment-led strategy advances financialization. Through qualitative content analysis, the thesis further delineates and critically appraises the underlying rationales of this new strategy that is operationalised by the Directorate-General for International Cooperation & Development. The thesis concludes that this strategic policy is dictated by financial motives and displays little concern over the actual development outcomes, hence risking the retention of benefits on financial elites and fundamentally undermining broader development objectives on social impact. Through re- conceptualising development as synonymous with economic growth and access to finance, the EU deploys strategies that maintain the hierarchies of financialized capitalist economies. As a result, it casts African businesses and individuals as subjects of asset speculation and denies the multidimensional issues of poverty and marginalization. (Less)
Please use this url to cite or link to this publication:
author
Prättälä, Nea LU
supervisor
organization
course
STVK12 20201
year
type
M2 - Bachelor Degree
subject
keywords
Financialization, Private Sector, Development cooperation, The European Union, Africa
language
English
id
9011458
date added to LUP
2020-08-05 11:20:20
date last changed
2020-08-05 11:20:20
@misc{9011458,
  abstract     = {{Early 2020 saw the publishing of the European Union’s new Africa Strategy. With a focal point on fostering economic growth, the strategy coalesces around increasing the confidence of international financiers to partake in investing into Africa. This thesis operationalises a framework on financialization to critically investigate ways in which the EU’s investment-led strategy advances financialization. Through qualitative content analysis, the thesis further delineates and critically appraises the underlying rationales of this new strategy that is operationalised by the Directorate-General for International Cooperation & Development. The thesis concludes that this strategic policy is dictated by financial motives and displays little concern over the actual development outcomes, hence risking the retention of benefits on financial elites and fundamentally undermining broader development objectives on social impact. Through re- conceptualising development as synonymous with economic growth and access to finance, the EU deploys strategies that maintain the hierarchies of financialized capitalist economies. As a result, it casts African businesses and individuals as subjects of asset speculation and denies the multidimensional issues of poverty and marginalization.}},
  author       = {{Prättälä, Nea}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Advancing Financialization through Development Cooperation: An Analysis of the European Union’s New Investment & Growth Strategies in Africa}},
  year         = {{2020}},
}