ISBN:
9783031510007
Language:
English
Pages:
1 Online-Ressource (XXV, 181 p.)
Series Statement:
Advances in African Economic, Social and Political Development
Parallel Title:
Erscheint auch als
Parallel Title:
Erscheint auch als
Parallel Title:
Erscheint auch als
Keywords:
Africa
;
Development economics.
;
Economic development.
;
Schools of economics.
;
International economic relations.
;
Political planning.
;
Tax havens
;
WTO
;
Decolonial agency
;
Emerging markets
;
India
;
Capital flight
;
IMF
;
Ecological debt
;
Financial capital
;
China
;
Russia
;
Financial imperialism
;
Multinational corporations
;
World Bank
;
Credit rating agencies
;
Emerging economies
;
Climate justice
;
African elites
;
Brazil
Abstract:
Chapter 1. Entrapment of Africa in an Asymmetrical Global Economy -- Chapter 2. Multinational Corporations and Tax Havens as Beneficiaries of a Shadow Financial System -- Chapter 3. World Bank, IMF and WTO as Agents of Financial Imperialism -- Chapter 4. The Tyranny of the International Credit Rating Agencies -- Chapter 5. International Financial Subordination and the Pathologies of Sovereign Debt -- Chapter 6. Imperial Ecocide and the Bane of Global Climate Finance -- Chapter 7. Africa and the Age of Global Elites-the “Davos Men” -- Chapter 8. African Elites as Clients of the Offshore World -- Chapter 9. Conclusion: A Canvass for a Decolonial African Agency.
Abstract:
This book discusses the role played by powerful global institutions such as the IMF, the World Bank, the World Trade Organisation, multinational corporations, and the international credit rating agencies in keeping Africa marginalised in the world economy. The book focuses on the intrusive roles of these institutions as enablers and beneficiaries of capital outflows and financial subordination in Africa. Diverging from the official narrative that touts China and the other emerging economies as global reformers that are poised to partner Africa in its fight against financial subjugation, the book instead argues that, like the Western powers, the emerging economies are benefiting prodigiously from a rigged global financial system that keeps Africa as a net creditor to the rest of the world. The book draws its theoretical framework from the repressed heterodox theories including dependency, core-periphery, world systems and Marxist theories as well as the decolonial approach. It concludes with a call for a decolonial African agency that should champion an epistemic rebellion against the neo-liberal and neo-classic economic traditions that have been historically deployed to justify Africa’s subordinated position in the global economic governance. This book comes at moment in time when Africa is ready to become a Rule Maker not a Rule Taker. The analysis Dr. Moyo presents having been in the front line of public policy and international negotiations demonstrate the need for Africa to re-write the rules to foster our own Transformation. Jason Rosario Braganza, Executive Director, African Forum and Network on Debt and Development (AFRODAD).
DOI:
10.1007/978-3-031-51000-7
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