• 1.bestellen
  • 2.Warenkorb ändern
  • 3.zur Kassa gehen
Sprache: EnglischSeiten: 110 - 128https://doi.org/10.20446/JEP-2414-3197-36-4-110
Claar, Simone

Green Finance and Transnational Capitalist Classes - Tracing Vested Capital Interests in Renewable Energy Investment in South Africa

 

 

Andere Artikel in dieser Ausgabe
Jäger, Johannes; Schmidt, Lukas

Global Green Finance and Sustainability: Insights for Progressive Strategies

Sprache: EnglischSeiten: 4 - 30https://doi.org/10.20446/JEP-2414-3197-36-4-4
  • Abstract
  • Literatur
  • Keywords

Green finance has been increasingly presented as being an effective solution to global environmental problems and climate change. However, today’s global financial structures tend to reproduce global inequali-ties and contribute to continued, highly unequal over-use and destruction of the environment, as well as a global ecological crisis. This paper introduces the topic with a specific emphasis on green finance, and provides an over-view of the contributions to this special issue on Global Finance and Socio-Ecological Transformation. We discuss the implications of global green finance and propose a typology that differentiates between neoliberal, reformist and progressive transformative types of green finance. Based on this, we present insights for progressive strategies and policies for financing a socio-ecological transformation towards global sustainable welfare.

AK Wien Abteilung EU & Internationales (2020): Warum wir jetzt Menschen und Klima und nicht Banken und Konzerne retten müssen. https://emedien.arbe-iterkammer.at/viewer/ppnresolver?id=AC15644760_2020_3, 20.11.2020.

Anderson, David A. (2019): Environmental Economics and Natural Resource Management. London: Routledge. https://doi.org/10.4324/9781351121477

 

Bergmann, Luke (2013): Bound by chains of carbon: Ecological–economic geogra-phies of globalization. In: Annals of the Association of American Geographers 103 (6), 1348-1370. https://doi.org/10.1080/00045608.2013.779547

 

Berrou, Romain/Ciampoli, Nicola/Marini, Vladimiro (2019b): Defining Green Finance. In: Migliorelli, Marco/Dessertine, Philippe (ed.): The Rise of Green Finance in Europe. Opportunities and challenges for Issuers, Investors and Marketplaces. London: Palgrave Macmillan, 31-52. https://doi.org/10.1007/978-3-030-22510-0_2

 

Berrou, Romain/Dessertine, Philippe/Migliorelli, Marco (2019a): An Overview of Green Finance. In: Migliorelli, Marco/Dessertine, Philippe (ed.): The Rise of Green Finance in Europe. Opportunities and challenges for Issuers, Investors and Marketplaces. London: Palgrave Macmillan, 3-30. https://doi.org/10.1007/978-3-030-22510-0_1

 

Bracking, Sarah (2020). Financialization and the Environmental Frontier. In: Philip Mader/Daniel Mertens/Natascha van der Zwan (eds.): The Routledge Interna-tional Handbook of Financialization. London: Routledge. 213-223. https://doi.org/10.4324/9781315142876-18

 

Brand, Ulrich/Wissen, Markus (2014): The Financialization of Nature as Crisis Strategy. In: Journal für Entwicklungspolitik 30 (2), 16-45. https://doi.org/10.20446/JEP-2414-3197-30-2-16

 

Brunnengräber, Achim (2009): Prima Klima mit dem Markt? Der Handel mit dem Recht, die Luft zu verschmutzen. In: Prokla 39 (156), 407-424. https://doi.org/10.32387/prokla.v39i156.422

Castro, Carlos J. (2004): Sustainable Development: Mainstream and Critical Perspectives. In: Organization Environment 17 (2), 195-225. https://doi.org/10.1177/1086026604264910

 

Donald, Kate (2019): Unsustainable? The IMF’s approach to the Sustainable Devel-opment Goals. Bretton Woods Project. www.brettonwoodsproject.org/2019/04/unsustainable-the-imfs-approach-to-the-sustainable-development-goals/, 20.11.2020

 

Eisenmenger, Nina/Pichler, Melanie/Krenmayr, Nora/Noll, Dominik/Plank, Barbara/Schalmann, Ekaterina/Wandl, Marie-Theres/Gingrich, Simone (2020): The Sustainable Development Goals prioritize economic growth over sustainable resource use: a critical reflection on the SDGs from a socio-ecolog-ical perspective. In: Sustainability Science 2020 (15), 1101-1110. https://doi.org/10.1007/s11625-020-00813-x

 

EuroMemo Group (2020): A Green New Deal for Europe – Opportunities and Challenges.

 

European Commission (2019): European Green Deal. Brussels: European Commission.

 

European High Level Expert Group in Sustainable Finance (2018): Financing a sustainable European economy. Brussels: European Commission.Fink, Larry (2020): A fundamental investment relationship of finance. www.black-rock.com/corporate/investor-relations/larry-fink-ceo-letter, 20.11.2020

 

Fischer-Kowalski, Marina/Pallua, Irene (2016): Ressourcenextraktion und Ressourcenverbrauch – globale Trends, regionale Muster. In: Fischer, Karin/Jäger, Johannes/Schmidt, Lukas (eds.): Rohstoffe und Entwicklung. Aktuelle Auseinandersetzungen im historischen Kontext. Wien: New Academic Press, 65-84.

 

Fletcher, Robert/Rammelt, Crelis (2017): Decoupling: A Key Fantasy of the Post-2015 Sustainable Development Agenda. In: Globalizations 14 (3), 450-467. https://doi.org/10.1080/14747731.2016.1263077

 

Gallagher, Kevin P/Kozul-Wright, Richard (2019): A New Multilateralism for Shared Prosperity: Geneva Principles for a Global Green New Deal. Boston and Geneva: Boston University Global Development Policy Center and UNCTAD.

 

Hallegatte, Stephane/Bangalore, Mook/Bonzanigo, Laura/Fay, Marianne/Kane, Tamaro/Narloch, Ulf/Rozenberg, Julie/Treguer, David/Vogt-Schilb/Adrien (2016): Shock Waves: Managing the impacts of climate change on Poverty. Washington: World Bank Group. https://doi.org/10.1596/978-1-4648-0673-5

 

Harris, Jonathan M./Roach, Brian (2013): Environmental and Natural Resource Economics. London: M.E. Sharpe. https://uk.reuters.com/article/global-bonds-idUKL8N1YO502

 

Hubacek, Klaus/Baiocchi, Giovanni/Feng, Kuishuang/Muñoz Castillo, Raúl/Sun, Laixiang/Xue, Jinjun (2017): Global carbon inequality. In: Energy, Ecology and Environment 2 (6), 361-369.

 

Ivanova, Diana/Wood, Richard (2020): The unequal distribution of household carbon footprints in Europe and its link to sustainability In: 3 (e18), 1-12. https://doi.org/10.1017/sus.2020.12

 

Johnson, Jay/Pecquet, Gary/Taylor, Leon (2007): Potential Gains from Trade in Dirty Industries: Devisting Lawrence Summers’ Memo. In: Cato Journal 27 (3), 397-410.

 

Kleinhückelkoten, Silke/Neitzke, H.-Peter (2016): Repräsentative Erhebung von Pro-Kopf-Verbräuchen natürlicher Ressourcen in Deutschland (nach Bevölkerungsgruppen). Berlin: Umwelt Bundesamt.Koch, Max/Buch-Hansen, Hubert (2020). The IPE of degrowth and sustain-able welfare. In: Ernesto Vivares (ed.): The Routledge Handbook to Global Political Economy. London: Routledge, 375-390. https://doi.org/10.4324/9781351064545-26

 

Lagoarde-Segot, Thomas (2020): Financing the Sustainable Development Goals In: Sustainability 12 (7), 2275. https://doi.org/10.3390/su12072775

 

Lagoarde-Segot, Thomas/Paranque, Bernard (2018): Finance and sustainability: From ideology to utopia. In: International Review of Financial Analysis 55, 80-92. https://doi.org/10.1016/j.irfa.2017.10.006

 

Lapavitsas, Costas (2013): Profiting Without Producing: How Finance Exploits Us All. London: Verso.Laser, Stefan/Schlitz, Nicolas (2019): Facing Frictions. Waste and Globalised Inequalities. In: Journal für Entwicklungspolitik 35(2/3), 5-32. https://doi.org/10.20446/JEP-2414-3197-35-2-5

 

Liodakis, George (2016): Mainstream and alternative theorising of the conditions and policies of sustainable development. In: International Journal of Sustain-able Development 19 (2), 147-161. https://doi.org/10.1504/IJSD.2016.077206

 

Löffler, Karsten (2020): Statement. Sustainable Finance Beirat der Bundesregierung. https://sustainable-finance-beirat.de/en/home/, 20.11.2020Marsh, Alastair (2020): ‘Social Washing’ Is Becoming Growing Headache for ESG Investors. Bloomberg www.bloomberg.com/news/articles/2020-04-09/-social-washing-is-becoming-growing-headache-for-esg-investors, 20.11.2020

 

Novy, Andreas/Bärnthaler Richard/Heimerl Veronika (2020): Zukunftsfähiges Wirtschaften. Basel: Belitz Juventa.

 

Oxfam (2015): Extreme Carbon Inequality. Why the Paris climate deal must put the poorest, lowest emitting and most vulnerable people first. https://oi-files-d8-prod.s3.eu-west-2.amazonaws.com/s3fs-public/file_attachments/mb-extreme-carbon-inequality-021215-en.pdf, 5.7.2020.

 

Pan, Chen/Peters, Glenn P./ Andrew, Robbie M./ Korsbakken, Jan Ivar/ Li, Shan-tong/Zhou, Dequen/Zhou, Peng (2017): Emissions embodied in global trade have plateaued due to structural changes in China. In: Earth’s Future 5, 934–946. https://doi.org/10.1002/2017EF000625

 

Reuters (2018): Corporate bond issuance shrinks to 7-year low as selloff deepens. www.reuters.com/article/global-bonds-idUSL8N1YO502, 20.11.2020

 

Reyes, Oscar (2020): Change Finance, not the Climate. Amsterdam and Wash-ington: Trans National Institute / Institute for Policy Studies.

 

Rezende de Carvalho Ferreira, Carolina Maria/Amorim Sobreiro, Vinicius/Kimura, Herbert/Luiz de Moraes Barboza, Flavio (2016): A systematic review of litera-ture about finance and sustainability. In: Journal of Sustainable Finance & Investment 6 (2), 112-147. https://doi.org/10.1080/20430795.2016.1177438

 

Ritchie, Hannah/Roser, Max (2020): CO2 and greenhouse gas emissions. Our world in data. www.OurWorldInData.org, 20.11.2020

 

Schultheiß, Jana/Buxbaum, Adi/Feigl, Georg/Wukowitsch, Florian (2020): AK-Wohlstandsbericht 2020. Wien: AK Wien.

 

Sustainable Finance Beirat der Bundesregierung (2020): Zwischenbericht. Die Bedeutung einer nachhaltigen Finanzwirtschaft für die große Transformation.https://sustainable-finance-beirat.de/wp-content/uploads/2020/03/200306_SFB-Zwischenbericht_DE.pdf, 20.11.2020

 

Trade Unions for Energy Democracy (2019): The Green New Deal, net-zero carbon, and the crucial role of public ownership. Conference Report. http://unionsfor-energydemocracy.org/tued-gnd-conference-report-2019

 

UNCTAD (2019): Trade and Development Report 2019. Financing a Global Green New Deal. Geneva: UNCTAD

 

UNCTAD (2020): World Investment Report 2020. Geneva: UNCTAD.UNEP (2016): Definitions and concepts. Background note. http://unepinquiry.org/wp-content/uploads/2016/09/1_Definitions_and_Concepts.pdf, 20.11.2020

 

UNEP (2019a): Global Emissions GEP Report 2019. www.unenvironment.org/swstatic-201223060258/swstatic-210420030003/swstatic-211017025636/resources/emissions-gap-report-2019

 

UNEP (2019b): Global Resource Outlook 2019. Natural resources for the future we want. https://wedocs.unep.org/bitstream/handle/20.500.11822/27517/GRO_2019.pdf

 

Wang, Yao/Zhi, Qiang (2016): The Role of Green Finance in Environmental Protec-tion: Two Aspects of Market Mechanism and Policies. In: Energy Procedia 104, 311-316. https://doi.org/10.1016/j.egypro.2016.12.053

 

Weber, Heloise (2017): Politics of ‘Leaving No One Behind’: Contesting the 2030 Sustainable Development Goals Agenda. In: Globalizations 14 (3), 399-414. https://doi.org/10.1080/14747731.2016.1275404

 

Weber, Olaf (2017): Corporate sustainability and financial performance of Chines banks. In: Sustainability Accounting, Management and Policy Journal 8 (3), 358-385. https://doi.org/10.1108/SAMPJ-09-2016-0066

 

Weber, Olaf/ElAlfy, Amr (2019): The Development of Green Finance by Sector. In: Migliorelli, Marco/Dessertine, Philippe (ed.): The Rise of Green Finance in Europe. Opportunities and challenges for Issuers, Investors and Marketplaces. London: Palgrave Macmillan, 53-78. https://doi.org/10.1007/978-3-030-22510-0_3

 

Zeller, Christian (2020): Revolution für das Klima. Warum wir eine ökosozialistische Alternative brauchen. München: oekom.

Green Finance, Sustainability, Socio-ecological Transforma-tion, Strategies, Environmental Policies

Jäger, Johannes; Schmidt, Lukas

The Global Political Economy of Green Finance: A Regulationist Perspective

Sprache: EnglischSeiten: 31-50https://doi.org/10.20446/JEP-2414-3197-36-4-31
  • Abstract
  • Literatur
  • Keywords

Green finance is often presented as being essential for sustainability. In the tradition of critical political economy, this paper focuses on (green) finance and its impact on the use of natural resources and the environment. Given the global dimension of many environmental problems and the economic interconnections of the use of global natural resources, the paper takes a global view, focusing in particular on global asymmetries and dependency relation-ships between core and periphery. Against this background, global financial structures and the role of green finance, and their implications, are analysed. However, adopting a regulationist perspective, this paper discusses different forms of green finance, their regulation, and the implications for national devel-opment models and the environment. Neoliberal green finance, reformist green finance and progressive transformative green finance are distinguished. We conclude that neoliberal forms of green finance tend to deepen core-periphery dependencies and to contribute to a highly unequal and growing (over-)use of nature and a transfer of natural resources from the core to the periphery. In part, reformist forms of green finance may change this. However, in order to stop the global, highly uneven over-use of nature, a progressive transformative form of green finance is needed to contribute to a fundamental socio-ecological transformation that ends the unequal over-use of natural resources.

Aglietta, Michel (2000 [1979]): A Theory of Capitalist Regulation. The US Experi-ence. London: Verso.

 

Akyüz, Yilmaz (2018): External Balance Sheets of Emerging Economies: Low-Yielding Assets, High-Yielding Liabilities. In: PERI Working Paper Series (476).

 

Amazon Watch (2020): BlackRock’s big problem: Amazon Destruction. https://amazonwatch.org/work/blackrocks-big-problem, 21.9.2020

 

Becker, Joachim/Jäger, Johannes/Leubolt, Bernhard/Weissenbacher, Rudy (2010): Peripheral Financialization and Vulnerability to Crisis: A Regulationist Perspective. In: Competition & Change 14 (3-4), 225-247. https://doi.org/10.1179/102452910X12837703615337

 

Becker, Joachim/Jäger, Johannes/Weissenbacher, Rudy (2015). Uneven and dependent development in Europe: the crisis and its implications. In: Johannes Jäger/Elisabeth Springler (eds.): Asymmetric Crisis in Europe and Possible Futures. Critical Political Economy and Post-Keynesian Perspectives. Oxon: Routledge, 81-97.

 

Becker, Joachim/Raza, Werner (2000): Theory of Regulation and Political Ecology. An Inevitable Divorce? In: Économie et sociétés, Série „Théorie de la régula-tion“ (11), 55-70.

 

Berrou, Romain/Dessertine, Philippe/Migliorelli, Marco (2019): An Overview of Green Finance. In: Migliorelli, Marco/Dessertine, Philippe (ed.): The Rise of Green Finance in Europe. Opportunities and challenges for Issuers, Investors and Marketplaces. London: Palgrave Macmillan, 3-30. https://doi.org/10.1007/978-3-030-22510-0_1

 

Bortz, Pablo G./Kaltenbrunner, Annina (2018): The International Dimension of Financialization in Developing and Emerging Economies. In: Development and Change 49 (2), 375-393. https://doi.org/10.1111/dech.12371

 

Bracco, Stefania (2016): The Economics of Biofuels. The impact of EU bioenergy policy on agricultural markets and land grabbing in Africa. London: Rout-ledge. https://doi.org/10.4324/9781315621111

 

Brand, Ulrich/Wissen, Markus (2013): Imperiale Lebensweise und die politische Ökonomie natürlicher Ressourcen. In: Karin Fischer/Johannes Jäger/Lukas Schmidt (eds.): Rohstoffe und Entwicklung. Aktuelle Auseinandersetzungen im historischen Kontext. Wien: New Academic Press. 235-248.Brand, Ulrich/Wissen, Markus (2014): The Financialization of Nature as Crisis Strategy. In: Journal für Entwicklungspolitik 30 (2), 16-45. https://doi.org/10.20446/JEP-2414-3197-30-2-16

 

Buchner, Barbara et al. (2019): Global Landscape of Climate Finance. https://climatepolicyinitiative.org/publication/global-landscape-of-climate-finance-201946Jff2011fl6 J95fl7, L4o06 Sh2anesCastro, Carlos J. (2004): Sustainable Development: Mainstream and Crit-ical Perspectives. In: Organization Environment 17 (2), 195-225. https://doi.org/10.1177/1086026604264910

 

Christophers, Brett (2015): The limits to financialization. In: Dialogues in Human Geography 5 (2), 183-200. https://doi.org/10.1177/2043820615588153

 

Clapp, Jennifer/Isakson, S. Ryan (2018): Risky Returns: The Implications of Finan-cialization in the Food System. In: Development and Change 49 (2), 437-460. https://doi.org/10.1111/dech.12376

 

Clark, Brett/Longo, Stefano B. (2017): Marxism and Ecology. In: Brennen, David M./Kristjanson-Gural, David/Mulder, Catherine P./Olsen, Erik K. (ed.): Rout-ledge Handbook of Marxian Economics. London: Routledge, 399-408. https://doi.org/10.4324/9781315774206-37

 

Dietz, Kristina/Engels, Bettina (2016): Umkämpfter Rohstoff boom. Akteure und Strategien in Konflikten um Bergbau in Subsahara-Afrika. In: Karin Fischer/Johannes Jäger/Lukas Schmidt (eds.): Rohstoffe und Entwicklung. Aktuelle Auseinandersetzungen im historischen Kontext. Wien: New Academic Press. 220-234.Dikau, Simon/Ryan-Collins, Josh (2017): Green Central Banking in Emerging Markets and Developing Country Economies. London: New Economics Foun-dation.

 

Ehrlich Reifer, Thomas (2011): Global Inequalities, Alternative Regionalisms and the Future of Socialism. In: Journal für Entwicklungspolitik 27 (1), 72-94. https://doi.org/10.20446/JEP-2414-3197-27-1-72

 

EuroMemo Group (2020): A Green New Deal for Europe – Opportunities and Challenges. http://www2.euromemorandum.eu/uploads/euromemo-randum_2020.pdf

 

European Commission (2019): European Green Deal. Brussels: European Commis-sion.Fairhead, James/Leach, Melissa/Scoones, Ian (2012): Green Grabbing: a new appro-priation of nature? In: Journal of Peasant Studies 39 (2), 237-261. https://doi.org/10.1080/03066150.2012.671770

 

Fischer-Kowalski, Marina/Pallua, Irene (2016): Ressourcenextraktion und Ressour-cenverbrauch – globale Trends, regionale Muster. In: Karin Fischer/Johannes Jäger/Lukas Schmidt (eds.): Rohstoffe und Entwicklung. Aktuelle Ausein-andersetzungen im historischen Kontext. Wien: New Academic Press, 85-106.

 

Foster, John Bellamy (2013): Marx and the Rift in the Universal Metabolism of Nature. In: Monthly Review 65 (7), 1-19. https://doi.org/10.14452/MR-065-07-2013-11_1

 

Foster, John Bellamy/Holleman, Hannah (2014): The theory of unequal ecological exchange: a Marx-Odum dialectic. In: The Journal of Peasant Studies 41 (2), 199-233. https://doi.org/10.1080/03066150.2014.889687

Franco, Jennifer C./Borras Jr., Saturnino M. (2019): Grey areas in green grabbing: subtle and indirect interconnections between climate change politics and land grabs and their implications for research. In: Land Use Policy 84, 192-199. https://doi.org/10.1016/j.landusepol.2019.03.013

 

G20 Sustainable Finance Group (2018): Synthesis Report. http://www.g20.utoronto.ca/2018/g20_sustainable_finance_synthesis_report.pdf, 21.9.2020

 

Gosh, Jayati (2013): Microfinance and the challenge of financial inclusion for devel-opment. In: Cambridge Journal of Economics 37, 1203–1219. https://doi.org/10.1093/cje/bet042

 

Gowan, Peter (1999): The Global Gamble. Washington’s Faustian Bid for World Dominance. London: Verso.Harvey, David (2009). The ‘New’ Imperialism: Accumulation by Dispossession. In: Leo Panitch/Colin Leys (eds.): The New Imperial Challenge. Socialist Register. London: Merlin Press, 63-87.

 

Harvey, David (2014): Seventeen Contradictions and the End of Capitalism. London: Profile Books.Heuwieser, Magdalena (2015): Grüner Kolonialismus in Honduras. Land Grabbing im Namen des Klimaschutzes und die Verteidigung der Commons. Wien: Promedia.

 

Hubacek, Klaus/Baiocchi, Giovanni/Feng, Kuishuang/Muñoz Castillo, Raúl/Sun, Laixiang/Xue, Jinjun (2017): Global carbon inequality. In: Energy, Ecology and Environment 2 (6), 361-369. https://doi.org/10.1007/s40974-017-0072-9

 

Huybrechs, Frédéric/Bastiaensen, Johan/Van Hecken, Gert (2019): Exploring the potential contribution of green microfinance in transformations to sustaina-bility. In: Current Opinion in Environmental Sustainability 41, 85-92. https://doi.org/10.1016/j.cosust.2019.11.00

 

1IFC (2017): Green Finance. A bottom up approach to tracking existing flows. IFC: Washington D.C.IMF (2019): Global Financial Stability Report. Lower for Longer. Washington D.C .: IMF.

 

Jäger, Johannes (2020). From Marx to Critical International Political Economy. In: Ernesto Vivares (ed.): The Routledge Handbook to Global Political Economy. London: Routledge, 247-261. https://doi.org/10.4324/9781351064545-17

 

Jäger, Johannes/Horn, Laura/Becker, Joachim (2016). Critical International Political Economy and Method. In: Alan Cafruny/Leila Simona Talani/Gonzalo Pozo (eds.): The Palgrave Handbook of Critical International Political Economy. London: Palgrave Macmillan, 101-118. https://doi.org/10.1057/978-1-137-50018-2_7

 

Jäger, Johannes/Leubolt, Bernhard/Schmidt, Lukas (2014): Alles Extraktivismus in Südamerika? Rohstoffrenten und Politik in Brasilien, Chile und Venezuela. In: Journal für Entwicklungspolitik 30 (3), 9-26. https://doi.org/10.20446/JEP-2414-3197-30-3-9

 

Koch, Max/Buch-Hansen, Hubert (2020). The IPE of degrowth and sustainable welfare. In: Ernesto Vivares (ed.): The Routledge Handbook to Global Political Economy. London: Routledge, 375-390. https://doi.org/10.4324/9781351064545-26

 

Lagoarde-Segot, Thomas (2020): Financing the Sustainable Development Goals In: Sustainability 12 (7), 2275. https://doi.org/10.3390/su12072775

 

Lagoarde-Segot, Thomas/Paranque, Bernard (2018): Finance and sustainability: From ideology to utopia. In: International Review of Financial Analysis 55, 80-92. https://doi.org/10.1016/j.irfa.2017.10.006

 

LICADHO (2019): Collateral Damage: Land Loss and Abuses in Cambodia’s Microfinance Sector. www.licadho-cambodia.org/reports.php?perm=228, 27.5.2020Lust, Jan (2014): Peru: Mining capital and social resistance. In: Veltmeyer, Henry/Petras, James (eds.): The New Extractivism. A post-neoliberal development model or imperialism of the twenty-first century? London: Zed Books, 192-221.

 

Maconachie, Roy (2019): Green grabs and rural development: How sustainable is biofuel production in post-war Sierra Leone? In: Land Use Policy 81, 871-877. https://doi.org/10.1016/j.landusepol.2017.01.013

 

Marini, Ruy Mauro (1991 [1973]): Dialéctica de la dependencia. Ciudad de México: Ediciones Era.Marx, Karl (2012 [1867]): Capital. A Critique of Political Economy. London: Penguin Classics.Matković, Alexksandar (2019): Climate change and imperialism: what connects the Amazon fires and the EU-Mercosur agreement? http://cadtm.org/Climate-change-and-imperialism-what-connects-the-Amazon-fires-and-the-EU, 21.9.2020

 

Oliveira, Gustavo de LT/McKay, Ben/Plank, Christina (2017): How biofuel poli-cies backfire: Misguided goals, inefficient mechanisms, and political-ecolog-ical blind spots, ENERG POLICY 108: 765-775. https://doi.org/10.1016/j.enpol.2017.03.036

 

Ouma, Stefan/Johnson, Leigh/Bigger, Patrick (2018): Rethinking the financializa-tion of ‘nature’. In: Environment and Planning A: Economy and Space 50 (3), 500-511. https://doi.org/10.1177/0308518X18755748Ryner, Magnus/Cafruny, Alan (2017): The European Union and Global Capitalism. Origins, Development, Crisis. London: Palgrave. https://doi.org/10.1057/978-1-137-60891-8

 

Schandl, Heinz/FischerKowalski, Marina/West, James/Giljum, Stefan/Dittrich, Monika/Eisenmenger, Nina/Geschke, Arne/Lieber, Mirko/Wieland, Hans-peter/Schaffartzik, Anke/Krausmann, Fridolin/Gierlinger, Sylvia /Hosking, Karin/Lenzen, Manfred/Tanikawa, Hiroki/Miatto, Alessio/Fishman, Tomer (2018): Global Material Flows and Resource Productivity: Forty Years of Evidence. In: Journal of Industrial Ecology, 22(4), 827-838. https://doi.org/10.1111/jiec.12626

 

Scheidel, Arnim/Work, Courtney (2018): Forest plantations and climate change discourses: New powers of ‘green’ grabbing in Cambodia. In: Land Use Policy 77, 9-18. https://doi.org/10.1016/j.landusepol.2018.04.057

 

Smith, John (2016): Imperialism in the Twenty-First Century. Globalization, Super-Exploitation, and Capitalism’s Final Crisis. New York: Monthly Review Press.

 

Smith, Neil (2007): Nature as Accumulation Strategy. In: Socialist Register, 16-36.

 

Soederberg, Susanne (2014): Debtfare States and the Poverty Industry. Money, discipline and the surplus population. London: Routledge. https://doi.org/10.4324/9781315761954

 

UN (2015): Transforming our world: the 2030 Agenda for Sustainable Development. New York. UN.UNDP (2019): Human Development Report 2019. Beyond Income, Beyond Aver-ages, Beyond Today - Inequalities in Human Development in the 21st Century. New York: United Nations.

 

UNCTAD (2019): Trade and Development Report 2019. Financing a Global Green New Deal. Geneva: UNCTAD UNCTAD (2020): World Investment Report 2020: Geneva: UNCTAD.

 

Van der Pijl, Kees (2007): Nomades, Empires, States. Modes of Foreign Relations and Political Economy, Volume I. London: Pluto Press.World Bank (2020): Net official development assistance received (current US$). https://data.worldbank.org/indicator/DT.ODA.ODAT.CD, 21.9.2020

Green finance, sustainability, critical political economy, regulation theory, global development

Decker, Samuel

On The Transformative Potential of the 'Green New Deal'

Sprache: EnglischSeiten: 51 - 73https://doi.org/10.20446/JEP-2414-3197-36-4-51
  • Abstract
  • Literatur
  • Keywords

This article examines the transformative potential of various Green New Deal concepts that are currently being discussed in response to multiple crisis symptoms of globalised capitalism. The main focus is on the development of a systematic analytical framework, which will allow the defi-nition and assessment of the transformative potential of different political programmes. Throughout three constitutive characteristics of capitalist produc-tion (separation of wage labour and property, of enterprises among themselves and of the totality of enterprises and the state), three levels of transformation are presented (redistribution, socialisation and planning). Subsequently, different Green New Deal concepts are examined in order assess to what extent they can contribute to a transformation of capitalism.

Böhm, Steffen/Misoczky, Maria Cezi/Moog, Sandra (2012): Greening Capitalism? A Marxist Critique of Carbon Markets. Organization Studies 33 (11), 1617-1638. https://doi.org/10.1177/0170840612463326

 

Brand, Ulrich (2016): How to get out of the multiple crisis? Contours of a critical theory of social-ecological transformation. In: environ values 25 (5), 503-525. https://doi.org/10.3197/096327116X14703858759017

 

Brand, Ulrich/Daiber, Birgit (2012): Socialecological tranformations. In: Austrian Journal of Development Studies 28 (3), 4-6. Brand, Ulrich/Wissen, Markus (2012): Global Environmental Politics and the Imperial Mode of Living: Articulations of State–Capital Relations in the Multiple Crisis. In: Globalizations 9, 547-560. https://doi.org/10.1080/14747731.2012.699928

 

Chattopadhyay, Paresh (2018): On Market Socialism. In: Paresh Chattopad-hyay (ed.): Socialism and Commodity Production. Essay in Marx Revival. Boston: Brill (Historical materialism book series), 199-231. https://doi.org/10.1163/9789004377516_010

 

Decker, Samuel (2019): Contours of a critical transformative science. In: Decker, Samuel/Elsner, Wolfram/Flechtner, Svenja (Ed.): Principles and pluralist approaches in teaching economics. Towards a transforma-tive science. Abingdon, Oxon, New York: Routledge, 287-297. https://doi.org/10.4324/9781315177731-19DiEM25

 

Democracy in Europe Movement 2025 (2019): European Spring Mani-festo. https://diem25.org/wp-content/uploads/2019/01/EuropeanSpring-Mani-festo-2019.ENG_.pdf, 31.03.2020.DiEM25

 

Democracy in Europe Movement 2025 (2019): The Green New Deal for Europe. www.gndforeurope.com/10-pillars-of-the-green-new-deal-for-europe, 31.03.2020.72Sff201fl D16915

 

DSA Democratic Socialists of America (2019): An Ecosocialist Green New Deal: Guiding Principles. https://ecosocialists.dsausa.org/2019/02/28/gnd-principles/, 31.03.2020.

 

European Commission (2019): The European Green Deal. https://ec.europa.eu/info/sites/info/files/european-green-deal-communication_en.pdf, 31.03.2020.

 

Gallagher, Richard/Kozul-Wright, Kevin (2019): A New Multilateralism for Shared Prosperity: Geneva Principles for a Global Green New Deal. Boston University Global Development Policy Center.

 

Green New Deal Group (2020): History of the Green New Deal. https://green-newdealgroup.org/history-of-the-green-new-deal/, 31.03.2020.Guinan, Joe (2019): Socialising capital: looking back on the Meidner plan. In: International Journal of Public Policy 15 (1/2), 38-58. https://doi.org/10.1504/I J PP. 2 0 19.0 9 9 0 4 9

 

Hollender, Rebecca (2016): A Politics of the Commons or Commoning the Polit-ical? Distinct Possibilities for Post-Capitalist Transformation. In: Spectra 5 (1). https://doi.org/10.21061/spectra.v5i1.351

 

Itoh, Maria/Lapavitsas, Costas (1999): Money and Credit in a Socialist Economy. In: Political Economy of Money and Finance. Palgrave Macmillan, London. https://doi.org/10.1057/9780230375789

 

Klein, Naomi (2014): This changes everything. Capitalism vs. the climate. Vintage Canada edition. Toronto: Vintage Canada.

 

Marx, Karl (2000 [1849]): Wage Labor and Capital. In: McLellan, David: Karl Marx: Selected Writings. Oxford, New York: Oxford University Press.Marx, Karl/Engels, Friedrich (2005 [1857/1858]): Werke (MEW 42). Second edition. Berlin: Dietz.

 

Morozov, Evgeny (2019): Digital Socialism. The Calculation Debate in the Age of Big Data. In: New Left Review, (116). Patnaik, Prabat (2010): Socialism or Reformism? Social Scientist 38 (5/6), 3-21.

 

Phillips, Leigh; Rozworski, Michal (2019): People’s republic of Walmart. How the world’s biggest corporations are laying the foundation for socialism. London, New York: Verso.

 

Plumpe, Werner (2016): Debatten über die Gestaltbarkeit des Kapitalismus 1900-1933. In: Forschungsjournal Soziale Bewegungen 29 (3). https://doi.org/10.1515/fjsb-2016-0235Reißig, Rolf (2016): Transformation in unterschiedlichen Diskursen. Anmerkungen zum „Handbuch Transformationsforschung“. In: Brie, Michael (ed.): Futuring. Perspektiven der Transformation im Kapitalismus über ihn hinaus. Wiesbaden: Westphälisches Dampfboot, 281-302.

 

Roberts, Michael (2019): Modern Monetary Theory: A Marxist Critique. In: Class, Race and Corporate Power 7 (1). https://doi.org/10.25148/CRCP.7.1.008316

 

Saros, Daniel E. (2014): Information Technology and Socialist Construc-tion. The End of Capital and the Transition to Socialism. Hoboken: On the Transformative Potential of the ‘Green New Deal’Taylor and Francis (Routledge Frontiers of Political Economy). https://doi.org/10.4324/9781315814001

 

Scales, Ivan R. (2017): Green Capitalism. New Jersey: John Wiley & Sons.

 

Stirling, Andy (2015): Emancipating Transformations. From controlling ’the tran-sition’ to culturing plural radical progress. In: Scoones, Ian/Leach, Melissa/Newell, Peter (eds.): The politics of green transformations. London, New York, Routledge, 54-67.

 

ten Brink, Tobias (2012): Überlegungen zum Verhältnis von Kapitalismus und Staatenkonkurrenz. Zeitschrift für Außen- und Sicherheitspolitik 5, 97-116. https://doi.org/10.1007/s12399-011-0243-2

 

UNCTAD United Nations Conference on Trade and Development (2019): Trade and development report, 2019. Financing a global green New Deal. Geneva: United Nations.Vrousalis, Nicholas (2017): Council Communism and the Socialization Dilemma. Forthcoming in James Muldoon (ed.) Council Democracy: Theorising Boundaries Between the Political and Economic. London: Routledge. https://doi.org/10.4324/9781351205634-5WBGU – German Advisory Council on Global Change (2011): World in Transi-tion. A Social Contract for Sustainability. Berlin: WBGU.

Green New Deal, Transformation, Economic Policy, Economic Planning, Reformism, Alternatives to Capitalism, Mode of Production

Springler, Elisabeth

Financial Innovation, Macroeconomic Stability and Sustainabilty

Sprache: EnglischSeiten: 74-91https://doi.org/10.20446/JEP-2414-3197-36-4-74
  • Abstract
  • Literatur
  • Keywords

It is claimed that financial innovation meets the demanded changes in economic investment towards environmental sustainability and a transition towards low-carbon economies. While the underlying narrative for the proposed transition of economic structures highlights the necessity to search for an economic alternative to the profit-seeking resource-based produc-tion mode advocated by mainstream neoliberal economists, it becomes evident that the suggested tools of financial innovation to promote environmentally friendly investment, namely green finance, further promote neoliberal market forces to a large extent. After critically evaluating tools of green finance, this paper discusses the possibilities of strong institutional embeddedness of new green finance tools in order to mitigate the former’s negative effects.

Anger, Annela/Barker, Terry (2015): The Effects of the Financial System and Financial Crises on Global Growth and the Environment. In: Arestis, Philip/Sawyer, Malcom (eds.): Finance and the Macroeconomics of Envi-ronmental Policies. Houndmills: Palgrave Macmillan, 153-193. https://doi.org/10.1057/9781137446138_5

 

Bailey, Dain (2020): Re-thinking the Fiscal and Monetary Political Economy of the Green State. In: New Political Economy 5 (1) 5-17. https://doi.org/10.1080/13563467.2018.1526267

 

Beck, Stefan/Scherrer, Christoph (2013): Varieties of Capitalism. In: Wull-weber, Joscha/ Graf, Antonia/Behrens, Maria (eds.): Theorien der Interna-tionalen Politischen Ökonomie. Wiesbaden: Springer, 151-166. https://doi.org/10.1007/978-3-658-02527-4_987

 

Berrou, Romain/Dessertine, Philippe/Migliorelli, Marco (2019): An overview of Green finance. In: Migliorelli Marco/Dessertine Philippe (eds.): The Rise of Green Finance in Europe, Opportunities and Challenges for Issuers, Inves-tors and Marketplaces. Palgrave Studies in Impact Finance. Cham: Palgrave Macmillan/Springer Nature Switzerland, 3-29. https://doi.org/10.1007/978-3-030-22510-0_1

 

Bruff, Ian/Ebenau, Matthias/May, Christian/Nölke, Andreas (2013): Einleitung: Kapitalismusvergleich, Kapitalismusanalyse und Kapitalismuskritik in Zeiten der globalen Krise. In: Bruff, Ian/Ebenau, Matthias/May, Christian/Nölke, Andreas (eds.). Vergleichende Kapitalismusforschung: Stand, Perspektiven, Kritik. Münster: Westfälisches Dampf boot, 9-20.

 

Bruff, Ian/Hartmann, Eva (2013): Neopluralistische Politikwissenschaft, Wirtschaftssoziologie und die konzeptionellen Grundlagen der Vergleichenden Kapitalismusforschung. In: Bruff, Ian/Ebenau, Matthias/May, Christian/Nölke, Andreas (eds.): Vergleichende Kapitalismusforschung: Stand, Perspektiven, Kritik. Münster: Westfälisches Dampf boot, 37-50.

 

Campiglio, Emanuele/Godin, Antoine/Kemp-Benedict, Eric/Matikainen, Sini (2017): The Tightening Links Between Financial Systems and the Low-Carbon Transition. In: Arestis, Philip/ Sawyer, Malcom (eds.): Economic Policies since the Global Financial Crisis. Houndmills: Palgrave Macmillan, 313-356. https://doi.org/10.1007/978-3-319-60459-6_8

 

Chick, Victoria (1993): The Evolution of the Banking System and the Theory of Monetary Policy. In: Frowen, Stephen F. (eds.). Monetary Theory and Mone-tary Policy: New Tracks for the 1990s, London: Macmillan, 79-92. https://doi.org/10.1007/978-1-349-23096-9_6Clarke, Chris (2019): Platform lending and the politics of financial infrastructure. In: Review of international Political Economy 26, 863-885. https://doi.org/10.1080/09692290.2019.1616598

 

Climate Bonds (2020): 2019 Green Bond Market Summary, February 2020. www.climatebonds.net, 15.06.2020. Dabrowski, Marek (2017): Potential impact of financial innovation on financial services and monetary policy, CASE – Center for Social and Economic Research on behalf of CASE Network, No 488. https://doi.org/10.2139/ssrn.3009307

 

Demirgüc-Kunt, Asli/Levine, Ross (2001): Financial Structure and Economic Growth: Perspectives and Lessons. In: Demirgüc-Kunt, Asli/Levine, Ross (eds.): Financial Structure and Economic Growth: A Cross-Country Comparison of Banks, Markets, and Development. Cambridge: MIT Press, 3-14. https://doi.org/10.7551/mitpress/3001.001.0001

 

Dorfleitner, Gregor/Braun, Diana (2019): Fintech, Digitalization and Blockchain: Possible Applications for Green Finance. In: Migliorelli, Marco/Dessertine, Philippe (eds.): The Rise of Green Finance in Europe, Opportunities and Chal-lenges for Issuers, Investors and Marketplaces,?? Palgrave Studies in Impact Finance. Cham: Palgrave Macmillan/Springer Nature Switzerland, 207-238. https://doi.org/10.1007/978-3-030-22510-0_988Eff201fl695 S742ohff64

 

Dow, Sheila/Gosh, Dipak/Ruziev, Kobil (2008): A stages approach to banking development in transition economies. In: Journal of Post Keynesian Economics 31(1) 3-33. https://doi.org/10.2753/PKE0160-3477310101ECB (2015): Economic Bulletin Issue 1 / 2015; 15-18. www.ecb.europa.eu/pub/pdf/other/eb201501_focus01.en.pdf, 30.06.2020. ECB (n. Y.): Asset purchase program, cumulated net purchases. www.ecb.europa.eu/mopo/implement/omt/html/index.en.html, 1.06.2020.

 

Epstein, Gerald A. (2005): Introduction: Financialization and the World Economy. In: Epstein, Gerald A.(Ed.): Financialization and the World Economy. Chel-tenham: Edward Elgar, 3-16.Gabor, Daniela/Brooks, Sally (2017). The digital revolution in financial inclusion: international development in the fintech rea. In: New Political Economy 22 (4), 423-436.

 

Guttmann, Robert (2018): Eco-Capitalism Carbon Money, Climate Finance and Sustainable Development. Palgrave Macmillan: Houndmills. https://doi.org/10.1007/978-3-319-92357-4_7

 

Hall, Peter H./Soskice, David (2004): Varieties of Capitalism and Institutional Complementarities. In: Franzese, Robert/Mooslechner, Peter/Schürz, Martin (eds.): Institutional Conflicts and Complementarities Monetary Policy and Wage Bargaining Institutions in EMU.

 

Dordrecht: Kluwer Academic Publishers, 43-76.Heires, Marcel/Nölke, Andreas (2014): Die Politische Ökonomie der Finanzial-isierung. Einleitung. In: Heires, Marcel/Nölke, Andreas (eds.): Politische Ökonomie der Finanzialisierung. Wiesbaden: Springer, 19-29. https://doi.org/10.1007/978-3-658-03778-9_1

 

Hoffmann, Hubert (1987): Postkeynesianische Ökonomie – Übersicht und Orien-tierung. In: Dietrich, Karl/Hoffmann, Hubert/Kromphardt, Jürgen/Kühne, Karl/Kurz, Heinz D./Riese, Hajo/Schefold, Bertram (eds.): Postkeynesian-ismus – Ökonomische Theorie in der Tradition von Keynes, Kalecki und Sraffa. Marburg: Metropolis, 9-36.Hyung, Kyung Jin/Baral, Prajwal (2019): Use of Innovative Public Policy Instru-ments to Establish and Enhance the Linkage Between Green Technology and Finance. In: Sachs Jeffrey D./Wing Thye Woo/Naoyuki, Yoshino/Farhad, Taghizadeh-Hesary (eds.): Handbook of Green Finance, Energy Security and Sustainable Development, Asian Development Bank Institute. Springer: Singa-pore, 339-362. https://doi.org/10.1007/978-981-13-0227-5_28

 

Janicko, Martin (2015): Mainstream versus Heterodox View of Financial Innova-tion. In: Procedia Economics and Finance 30, 352-363. https://doi.org/10.1016/S2212-5671(15)01302-7

 

Koh, Wee Chian/Yu, Shu (2019): Macroeconomic Development. In: Kose, M. Ayhan/ Ohnsorge, Franziska (eds.): A Decade After the Global Recession, Lessons and Challenges for Emerging and Developing Economies. Wash-ington: World Bank, 119-158.

 

Financial Innovation, Macroeconomic Stability and Sustainability Kose, M. Ayhan / Ohnsorge, Franziska (2019): A Decade After the Global Reces-sion, Lessons and Challenges for Emerging and Developing Economies. Wash-ington: World Bank. https://doi.org/10.1596/32641

 

Lovells, Hogan (2020): Debt Capital Markets – Global Insights, Spring 2020. www.hoganlovells.com/~/media/hogan-lovells/pdf/2020-pdfs/2020_02_21_brochure_dcm_spring-2020.pdf?la=en, 4.06.2020.

 

May, Christian/Nölke, Andreas (2013): Kritischer Institutionalismus in der Verlgeichenenden Kapitalismusforschung: Konzeptionelle Überlegungen und Forschungsprogramm. In: Bruff, Ian/Ebenau, Matthias/May, Christian/Nölke, Andreas (eds.): Vergleichende Kapitalismusforschung: Stand, Perspektiven, Kritik. Münster: Westfälisches Dampf boot, 103-118.

 

Mazzucato, Mariana (2016): From market fixing to market-creating: a new frame-work for innovation policy. In: Industry and innovation 23 (2), 140-156. https://doi.org/10.1080/13662716.2016.1146124

 

Minsky, Hyman (1992): The Financial Instability Hypothesis.The Jerome Levy Economics Institute of Bard College, Working Paper No. 74, May 1992. http://www.levyinstitute.org/pubs/wp74.pdf, 4.06.2020.

 

Nassiry, Darius (2019): The Role of Fintech in Unlocking Green Finance, Policy Insights for Developing Countries. In: Sachs, Jeffrey D./Wing Thye Woo/Naoyuki Yoshino/Farhad Taghizadeh-Hesary (eds.): Handbook of Green Finance, Energy Security and Sustainable Development, Asian Development Bank Insti-tute. Singapore: Springer, 315-336. https://doi.org/10.1007/978-981-13-0227-5_27

 

Nielsen, Kristoffer (2020): Green bond market update. In: The Green Bond (2) 2020, 6-12. https://doi.org/10.1016/j.fopow.2020.11.013

 

Noh, Hee Jin (2019): Financial Strategies to Accelerate Green Growth. In: Sachs, Jeffrey D./Wing, Thye Woo/Naoyuki Yoshino/Farhad, Taghizadeh-Hesary (eds.): Handbook of Green Finance, Energy Security and Sustainable Develop-ment, Asian Development Bank Institute. Singapore: Springer, 37-62.

 

Official journal of the European Union (2013) DECISION No 1386/2013/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 20 November 2013 on a General Union Environment Action Programme to 2020 ‘Living well, within the limits of our planet.’ https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013D1386&from=EN, 6.06.2020.

 

Palley, Thomas I. (2013): Financialization. The economics of finance capital domina-tion. Houndmills: Palgrave Macmillan.Parenteau, Robert W. (2005): The Late 1990s’ US Bubble: Financialization in the Extreme. In: Epstein, Gerald A. (ed.): Financialization and the World Economy. Cheltenham: Edward Elgar, 111-148.Sablowski, Thomas (2008): Towards the Americanization of European Finance? The Case of Finance-Led Accumulation in Germany. In: Panitch, Leo/Konings, Martiin (eds.): The American empire and the political economy of global finance. Houndmills: Palgrave Macmillan, 135-158. https://doi.org/10.1057/9780230227675_790Eff201fl695 S742ohff64

 

Sawyer, Malcolm (2014): Bank-based versus market-based financial systems: a critique of the dichotomy, FESSUD Working Paper Series No19. http://fessud.eu/wp-content/uploads/2013/04/Bank-based-versus-market-based-financial-systems-a-critique-of-the-dichotomy-working-paper-19.pdf, 5.10.2020.

 

Sommer, Tobias (2017). Greening the Financial System: Enhancing Competi-tiveness Through Economic Development, A briefing. https://unepinquiry.org/publication/greening-the-financial-system-enhancing-competitiveness-through-economic-development/, 5.10.2020.

 

Springler, Elisabeth (2006). Evolution of national financial systems. The Devel-opment of the New Member States of the European Union. In: Forstater, Mathew/Wray, Randall (eds.). Money, financial instability and Stabilization Policies. Cheltenham: Edward Elgar, 231-256.S

 

pringler, Elisabeth (2019): Inflation: Failures of Inflation Targeting – A European Perspective. In: Arestis, Philip/Sawyer, Malcolm (eds.) Frontiers of Heter-odox Macroeconomics. Houndmills: Palgrave Macmillan, 173-222. https://doi.org/10.1007/978-3-030-23929-9_5

 

Stein, Peer/Rooprai, Gursimran/Kludovacz, Tibor (2018): Raising $23 Tril-lion Greening Banks and Capital Markets for Growth G20 Input Paper on Emerging Markets, Washington: International Finance Corporation World Bank Group.

 

Stockhammer, Engelbert (2014): Entstehung und Krise des finanz-dominiserten Akkumulationsregimes. Eine postkeynesianische Perspektive auf Finanzial-isierung. In: Heires, Marcel/Nölke, Andreas (eds.): Politische Ökonomie der Finanzialisierung. Wiesbaden: Springer, 33-48. https://doi.org/10.1007/978-3-658-03778-9_2

 

Tufano, Peter (2002): Financial Innovation. www.dklevine.com/archive/fininnov_tufano_june2002.pdf, 2.06.2020.

Financial Innovation, macroeconomic stability, sustaina-bility, green finance

Tröster, Bernhard; Küblböck, Karin

Shifting the Course? The Impact of Chinese Finance on Extractivism in Latin America and Sub-Saharan Africa

Sprache: EnglischSeiten: 92 - 109https://doi.org/10.20446/JEP-2414-3197-36-4-92
  • Abstract
  • Literatur
  • Keywords

China’s demand for commodities and its role as an investor and creditor in the global periphery are closely connected. In the past two decades, China’s external policies have perpetuated commodity-based develop-ment models in the Global South, which are linked with negative socio-ecolog-ical effects. In this paper, we assess China’s engagement in Sub-Saharan Africa and Latin America, by analysing China’s outward financial flows. We show that these flows reflect China’s growth model, but also vary by destination, given the regionally prevailing development strategies. We argue that whether new Chinese policies for more resource efficiency will trigger more sustainable development models in these regions, depends on these regions’ existing rela-tionships and experiences with China. However, the risks for continued extrac-tivism remain high.

AEI (2020): China Global Investment Tracker. AEI (American Enterprise Insti-tute) und Heritage Foundation. www.aei.org/china-global-investment-tracker/, 15.6.2020.Af DB (2018): African Economic Outlook 2018. Addis Ababa: African Development Bank.

 

Altenburg, Tilmann/Chen, Xiao/Lütkenhorst, Wilfried/Staritz, Cornelia/Whit-field, Lindsay (2020): Exporting out of China or out of Africa? Automation versus relocation in the global clothing industry. Discussion Paper 1/2020. Deutsches Institut für Entwicklungspolitik (DIE).Auty, Richard.M. (1993): Sustaining Development in Mineral Economies: The Resource Curse Thesis. London: Routledge.

 

Banik, Dan/Bull, Benedicte (2018): Chinese engagement in Africa and Latin America: does it matter for state capacity? In: Third World Thematics: A TWQ Journal 3 (4), 532–551. https://doi.org/10.1080/23802014.2018.1531682

 

Brautigam, Deborah (2009): The Dragon’s Gift: The Real Story of China in Africa. New York: Oxford University Press.

 

Brautigam, Deborah/Gallagher, Kevin (2014): Bartering Globalization: China’s Commodity-backed Finance in Africa and Latin America. In: Global Policy 5 (3), 346–352. https://doi.org/10.1111/1758-5899.12138106Bff201fl26 T2957ff2, Kfl240 Kohah9ne

 

CARI (2020): Loan Database. China Africa Research Initiative at Johns Hopkins University. http://www.sais-cari.org/data, 15.6.2020.Compagnon, Daniel/Alejandro, Audrey (2013): China’s External Environmental Policy: Understanding China’s Environmental Impact in Africa and How It Is Addressed. In: Environmental Practice 15 (3), 220–227. https://doi.org/10.1017/S1466046613000252

 

Corden, W. Max/Neary, J. Peter (1982): Booming Sector and De-Industrialisation in a Small Open Economy. In: Economic Journal 92 (368), 825–48. https://doi.org/10.2307/2232670

 

DER A (2019): Rohstoffinformationen 41 – Einblicke in die chinesische Rohstoffwirtschaft. Deutsche Rohstoffagentur.

 

Dietz, Kristina (2017): Räumliche Dynamiken rohstoff basierter Entwicklung. In: Burchardt, Hans-Jürgen/Peters, Stefan/Weinmann, Nico (eds.): Entwicklung-stheorie von heute - Entwicklungspolitik von morgen. Baden-Baden: Nomos, 205-222. https://doi.org/10.5771/9783845267340-206

 

Ederer, Stefan/Heumesser, Christine/Staritz, Cornelia (2016): Financialization and commodity prices – an empirical analysis for coffee, cotton, wheat and oil. In: International Review of Applied Economics 30 (4), 462–487. https://doi.org/10.1080/02692171.2015.1122745

 

Ericsson, Magnus/Löf, Olof/Löf, Anton (2020): Chinese control over African and global mining—past, present and future. Mineral Economics 33 (1-2), 153–181. https://doi.org/10.1007/s13563-020-00233-4

 

FOCAC (2015): The Forum on China-Africa Cooperation Johannesburg Action Plan 2016-2018. Forum on China-African Cooperation. www.focac.org/eng/zy wx_1/zy wj/t1327961.htm, 15.6.2020.

 

Gallagher, Kevin/Myers, Margaret (2020): China-Latin America Finance Database. Washington, DC: Inter-American Dialogue.Gelb, A.H. (1988): Windfall Gains: Blessing or Curse? New York: Oxford University Press.

 

Gudynas, Eduardo (2019): Extraktivismen. Erscheinungsformen und Neben-wirkungen. In: Ramírez, Martín/Schmalz, Stefan (eds.): Extraktivismus: Lateinamerika nach dem Ende des Rohstoff booms. München: Oekom, 19-38.

 

Horn, Sebastian/Reinhart, Carmen/Trebesch, Christoph (2020): China’s Overseas Lending. Kiel Working Paper Nr. 2132. Kiel Institute for the World Economy. https://doi.org/10.3386/w26050

 

Irwin, Amos/Gallagher, Kevin (2014): Exporting National Champions: China’s OFDI Finance in Comparative Perspective. Working Paper 6. Global Economic Governance Initiative. https://doi.org/10.1111/cwe.12089

 

Jäger, Johannes/Leubolt, Bernhard/Schmidt, Lukas (2014): Alles Extraktivismus in Südamerika? Rohstoffrenten und Politik in Brasilien, Chile und Venezuela. In: Journal für Entwicklungspolitik 30 (3), 9-26. https://doi.org/10.20446/JEP-2414-3197-30-3-9

 

Jenkins, Rhys (2018): How China is Reshaping the Global Economy: Develop-ment Impacts in Africa and Latin America. How China is Reshaping the Global Economy. Oxford: Oxford University Press. https://doi.org/10.1093/oso/9780198738510.001.0001

 

Küblböck, Karin (2014): Can ‘Undistorted Access’ Lead to Inclusive Development? The EU Raw Materials Initiative and Possible Effects upon Resource-Based Development in Africa. In: Journal für Entwicklungspolitik 30 (3), 89–105. https://doi.org/10.20446/JEP-2414-3197-30-3-89

 

Küblböck, Karin/Tröster, Bernhard/Ambach, Christoph (2019): Going Global - Chinese natural resource policies and their impacts on Latin America. ÖFSE Briefing Paper No. 24. Vienna: Austrian Foundation for Development Research (ÖFSE).

 

Mihalyi, David/Adam, Aisha/Hwang, Jyhjong (2020): Resource-Backed Loans: Pitfalls and Potential. Natural Resource Governance Institute. https://resource-governance.org/analysis-tools/publications/resource-backed-loans-pitfalls-potential, 15.6.2020.

 

Myers, Margaret (2019): China and the Amazon: Toward a Framework for Maxi-mizing Benefits and Mitigating Risks of Infrastructure Development. Inter-American Dialogue and others. www.thedialogue.org/analysis/china-and-the-amazon-toward-a-framework-for-maximizing-benefits-and-mitigating-risks-of-infrastructure-development/, 15.06.2020

 

Nedopil, Christoph (2020): Countries of the Belt and Road Initiative. Beijing: IIGF Green BRI Center. https://green-bri.org/countries-of-the-belt-and-road-initia-tive-bri, 10.9.2020.

 

Nissanke, Machiko (2019): Exploring macroeconomic frameworks conducive to structural transformation of sub-Saharan African economies. In: Struc-tural Change and Economic Dynamics 48, 103-116. https://doi.org/10.1016/j.strueco.2018.07.005

 

Papyrakis, Elissaios (2017): The Resource Curse – What Have We Learned from Two Decades of Intensive Research: Introduction to the Special Issue. In: The Journal of Development Studies 53 (2), 175–185. https://doi.org/10.1080/00220388.2016.1160070

 

Peters, Stefan (2019): Rentengesellschaften: Der lateinamerikanische (Neo-)Extrak-tivismus im transregionalen Vergleich. Baden-Baden: Nomos. https://doi.org/10.5771/9783845295282Prebisch, Raúl (1950): The economic development of Latin America and its principal problems. New York: United Nations.Ray, Rebecca/Gallagher, Kevin/López, Andres/Sanborn, Cynthia (eds.) (2017): China and Sustainable Development in Latin America: The Social and Envi-ronmental Dimension. London/New York: Anthem Press.SAFE (2020): The Time-Series Data of International Investment Position of China. PRC State Administration of Foreign Exchange (SAFE). www.safe.gov.cn/en/2018/0928/1459.html, 15.6.2020.Schmalz, Stefan (2019a). The Three Stages of Chinese Capital Export. In: Journal für Entwicklungspolitik 35 (4), 17-38. https://doi.org/10.20446/JEP-2414-3197-35-3-17108Bff201fl26

 

Schmalz, Stefan (2019b): Vom Boom zur Krise. Gefangen im magischen Viereck des Neoextraktivismus. In: Ramírez, Martín/Schmalz, Stefan (eds.): Extraktiv-ismus: Lateinamerika nach dem Ende des Rohstoff booms. München: Oekom, 39-58.

 

Schmalz, Stefan (2018): Machtverschiebungen im Weltsystem: der Aufstieg Chinas und die große Krise. Frankfurt/New York: Campus Verlag.Shinn, David, H. (2016): The Environmental Impact of China’s Investment in Africa. In: Cornell International Law Journal 49 (1), 25-67.Singer, H.W. (1950): The Distribution of Gains between Investing and Borrowing Countries. In: American Economic Review 40 (2), 473–85.

 

Svampa, Maristella (2019): Neo-extractivism in Latin America: Socio-envi-ronmental Conflicts, the Territorial Turn, and New Political Narratives. Cambridge: Cambridge University Press. https://doi.org/10.1017/9781108752589Tröster, Bernhard/Küblböck, Karin/Grumiller, Jan (2017): EU ’s and Chinese raw material policies in Africa: converging trends? In: Kurswechsel (3), 69-78.

 

Ulbrich, Nina (2017): Chinas Rohstoffpolitik in Afrika: Neue Strategien auf alten Pfaden. In: Peters, Stefan/Burchardt, Hans-Jürgen (eds.): Umwelt und Entwicklung in globaler Perspektive: Ressourcen – Konflikte – Degrowth. Frankfurt/New York: Campus, 89-112.

 

UN ECLAC (2018): Foreign Direct Investment in Latin America and the Carib-bean 2018. Santiago.UNCTAD (2019): Commodity Dependence: A Twenty-Year Perspective. Geneva: United Nations Conference on Trade and Development.UNECA (2013): Making the most of Africa’s commodities: industrializing for growth, jobs and economic transformation.

 

Addis Ababa: United Nations Economic Commission for Africa.Wolf, Christina (2016): China and Latecomer Industrialization Processes in Sub-Saharan Africa: A Case of Combined and Uneven Development. In: World Review of Political Economy 7 (2), 249–282. https://doi.org/10.13169/worlrevi-poliecon.7.2.0249

 

Yuan, Zhigang /Vercueil, Julien/Boyer, Robert (2017): A Growth Model with Chinese Characteristics. In: Revue de la régulation. Capitalisme, institutions, pouvoirs (21). https://journals.openedition.org/regulation/12315, 15.6.2020. https://doi.org/10.4000/regulation.12135

Extractivism, China, Latin America, Sub-Saharan Africa, commodity-based development models, capital flows

Claar, Simone

Green Finance and Transnational Capitalist Classes - Tracing Vested Capital Interests in Renewable Energy Investment in South Africa

Sprache: EnglischSeiten: 110 - 128https://doi.org/10.20446/JEP-2414-3197-36-4-110
  • Abstract
  • Literatur
  • Keywords

The green economy’s general global agenda is to attract invest-ments into renewable energy. Within this setting, transnational capitalist classes are one primary driver as well as being key investors. The article investi-gates how transnational classes shape green investments, particularly in renew-able energy in Africa. This is demonstrated by tracing the ownership struc-tures and links to transnational capital classes and private equity through one case within the South African Renewable energy procurement programme (REI4P). The article, thus, addresses the lack of consideration of ecology and class issues in critical International Political Economy, arguing that colonial relationships are perpetuated within the green economy and finance.

Actis (2019): Actis acquires BioTherm Energy, 01.08.2019. www.act.is/media-centre/press-releases/actis-acquires-biotherm-energy, 06.05.2020.

 

Actis (n/a): Globoleq Africa. www.act.is/about-actis/our-portfolio/globeleq-africa, 06.05.2020.

 

Ashman, Sam/Fine, Ben (2013): Neo-liberalism, varieties of capitalism, and the shifting contours of South Africa’s financial system. In: Transformation: Crit-ical Perspectives on Southern Africa 81 (82), 144-178. https://doi.org/10.1353/trn.2013.0013

 

Baker, Lucy/Newell, Peter/Phillips, Jon (2014): The Political Economy of Energy Transitions: The Case of South Africa. In: New Political Economy 19 (6), 791-818. https://doi.org/10.1080/13563467.2013.849674

 

Baker, Lucy (2015): Renewable Energy in South Africa’s Minerals-Energy Complex: a ‘low carbon’ Transition? In: Review of African Political Economy 42 (144), 245-261.

 

BioTherm Energy (2018): Konkoonsies Solar PV. https://biothermenergy.com/konkoonsies-solar-pv/, 06.05.2020.Bonizzi, Bruno/ Kaltenbrunner, Annina / Powell, Jeff (2020): Subordinate Finan-cialization in Emerging Capitalist Economies. In: Mader, Philip, Mertens, Daniel/van der Zwan, Natascha (eds), The International Handbook of Financialization. London and New York: Routledge, 177–187. https://doi.org/10.4324/9781315142876-1.

 

Bracking, Sarah (2015): Performativity in the Green Economy: how far does climate finance create a fictive economy? In: Third World Quarterly 36 (12), 2337–2357. https://doi.org/10.1080/01436597.2015.1086263

 

Bracking, Sarah (2019): Financialisation, Climate Finance, and the Calculative Challenges of Managing Environmental Change. In: Antipode, 51, 709-729. https://doi.org/10.1111/anti.12510

 

Brand, Ulrich (2015): Green Economy, Green Capitalism and the Imperial Mode of Living: Limits to a Prominent Strategy, Contours of a Possible New Capitalist Formation. In: Fudan Journal of the Humanities and Social Sciences 9 (1), 107-121. https://doi.org/10.1007/s40647-015-0095-6

 

Brand, Ulrich/Görg, Christoph/Wissen, Markus (2011): SecondOrder Condensa-tions of Societal Power Relations: Environmental Politics and the Internation-alization of the State from a NeoPoulantzian Perspective. In: Antipode 43, 149-175. https://doi.org/10.1111/j.1467-8330.2010.00815.x

 

Brand, Ulrich/Wissen, Markus (2018): The Limits to Capitalist Nature. Theorizing and overcoming the Imperial Mode of Living. London: Roman and Littlefield.

 

Brockington, Dan/Ponte, Stefano (2015): The Green Economy in the global South: experiences, redistributions and resistance. In: Third World Quarterly 36 (12), 2197-2206. https://doi.org/10.1080/01436597.2015.1086639124Sff201fl C6995

 

Claar, Simone (2018): International Trade Policy and Class Dynamics in South Africa. The Economic Partnership Agreement. Basingstoke: Palgrave Macmillan. https://doi.org/10.1007/978-3-319-65714-1

 

Clapp, Jennifer (2014): International Political Economy and the Environment. In: Betsill, Michelle/Hochstetler, Kathryn/Stevis, Dimitris (eds): Advances in International Environmental Politics. New York: Palgrave Macmillan, 107-136.

 

Clapp, Jennifer/Dauvergne, Peter (2005): Paths to a Green World. The Political Economy of the Global Environment. Camebridge: MIT Press. https://doi.org/10.7551/mitpress/5265.001.0001

 

Clapp, Jennifer/Helleiner, Eric (2012): International political economy and the envi-ronment: back to the basics? In: International Affairs 88 (3), 485-501. https://doi.org/10.1111/j.1468-2346.2012.01085.x

 

Deloitte Consulting Pty (Ltd). (2017): An overview of electricity consumption and pricing in South Africa. An analysis of the historical trends and policies, key issues and outlook in 2017. Report prepared for Eskom Holdings SOC Ltd. www.eskom.co.za/Documents/EcoOverviewElectricitySA-2017.pdf, 24.05.2019.

 

DoE (2018): South African Energy Sector Report. http://www.energy.gov.za/files/media/explained/2018-South-African-Energy-Sector-Report.pdf, 24.05.2019.

 

Eberhard, Anton/Kolker, Joel/Leigland, James (2014): South Africa’s Renewable Energy IPP Procurement Program: Success Factors and Lessons. World Bank Group, PPIAF Report. www.gsb.uct.ac.za/files/ppiafreport.pdf, 24.05.2019.Ehresman, Timothy G./Okereke, Chukwumerije (2015): Environmental justice and conceptions of the green economy. In: International Environment Agreements 15, 13–27. https://doi.org/10.1007/s10784-014-9265-2

 

Elsner, Carsten/Neumann, Manuel/Müller, Franziska/Claar, Simone (2020): Room for money or manoeuvre? How green financialization and de-risking shape Zambia’s renewable energy transition. Manuscript. European Investment Bank (EIB) (n/a): Climate Awareness Bonds. www.eib.org/en/investor_relations/cab/index.htm, 11.10.2020.

 

Fine, Ben (2010): Locating Financialization. In: Historical Materialism 18, 97–116. https://doi.org/10.1163/156920610X512453Fine, Ben/Rustomjee, Zav (1996): The Political Economy of South Africa. From Mineral-Energy Complex to Industrialisation. London: Hurst and Company.

 

Foster, John Bellamy (2007): The Financialization of Capitalism. In: Monthly Review 58 (11), 1-12. https://doi.org/10.14452/MR-058-11-2007-04_1

 

Frankfurt School-UNEP Centre/BNEF (2020): Global Trends in Renewable Energy Investment 2020. Frankfurt School of Finance & Management. www.fs-unep-centre.org/wp-content/uploads/2020/06/GTR_2020.pdf, 08.10.2020

 

Gabor, Daniela (2019): Securitization for Sustainability. Does it help achieve the Sustainable Development Goals? Washington, D.C.: Heinrich Böll Stiftung.

 

Gauteng Business News (2008): Finance: Denham Capital Investment in BioTherm Energy www.gbn.co.za/articles/dailynews/187.html, 06.05.2020.

 

Gruffydd Jones, Branwen (2013): Slavery, Finance and International Political Economy: Postcolonial reflections. In: Seth, Sanjay (ed.): Postcolonial Theory and International Relations. London: Routledge.

 

Hancock, Kathleen J./Vivoda, Vlado (2014): International political economy: a field born of the OPEC crisis returns to its energy roots. In: Energy Research and Social Science 1, 206–216. https://doi.org/10.1016/j.erss.2014.03.017

 

Harris, Jerry (2013): Can Green Capitalism Build a Sustainable Society? In: Inter-national Critical Thought 3 (4), 468-479. https://doi.org/10.1080/21598282.2013.852864

 

IEA (2020): The Covid-19 Crisis and Clean Energy Progress. www.iea.org/reports/the-covid-19-crisis-and-clean-energy-progress, 16.10.2020.Jessop, Bob (2017): Nicos Poulantzas on political economy, political ecology, and democratic socialism. In: Journal of Political Ecology 24, 186-199. https://doi.org/10.2458/v24i1.20794

 

Katz-Rosene, Ryan/Paterson, Matthew (2018): Thinking Ecologically about the Global Political Economy. London: Routledge. https://doi.org/10.4324/9781315677835

 

Kayatekin, Serap A. (2009): Between Political Economy and Postcolonial Theory. First Encounters. In: Cambridge Journal of Economics 33, 1113-1118. https://doi.org/10.1093/cje/bep067

 

Kuzemko, Caroline/Keating, Michael/Goldthau, Andreas (2018): Nexus-thinking in international political economy: what energy and natural resource schol-arship can offer international political economy. In: Goldthau, Andreas/Kuzemko, Caroline/Keating, Michael (eds): Handbook of the International Political Economy of Energy and Natural Resources. Northampton: Edward Elgar Publishing. 1-20. https://doi.org/10.4337/9781783475636.00007

 

Mader, Philip/Mertens, Daniel/van der Zwan, Natascha (2020) Financialization: An Introduction. In: Mader, Philip, Mertens, Daniel/van der Zwan, Natascha (eds), The International Handbook of Financialization. London and New York: Routledge, 1–16. https://doi.org/10.4324/9781315142876-1

 

Mazzucato, Mariana/Semieniuk, Gregor (2018): Financing renewable energy: Who is financing what and why it matters. In: Technological Forecasting and Social Change 127, 8-22. https://doi.org/10.1016/j.techfore.2017.05.021

 

Monk, Alexander/Perkins, Richard (2020): What explains the emergence and diffusion of green bonds? Energy Policy, Vol. 145, October 2020. https://doi.org/10.1016/j.enpol.2020.111641

 

Müller, Franziska (2017): ‘Save the planet, plant a tree!’: REDD+ and global/local forest governance in the Anthropocene. In: Resilience 5 (3), 182-200. https://doi.org/10.1080/21693293.2016.1241478

 

Müller, Franziska/Claar, Simone (2020): Auctioning a ‘Just Energy Transition’? South Africa’s Renewable Energy Procurement Programme and its Implica-tions for Transition Strategies. Manuscript.

 

Newell, Peter (2018): Trasformismo or transformation? The global political economy of energy transitions. In: Review of International Political Economy 26 (1), 25-48. https://doi.org/10.1080/09692290.2018.1511448

 

Nölke, Andreas/ten Brink, Tobias/May, Christian/Claar, Simone (2020): State Permeated Capitalism in Emerging Markets. Routledge: London. https://doi.org/10.4324/9780429261145

 

OECD (2020): Building back better: A sustainable, resilient recovery after COVID-19. Policy Responses to Coronavirus (COVID-19). www.oecd.org/coronavirus/policy-responses/building-back-better-a-sustainable-resilient-recovery-after-covid-19-52b869f5/#biblio-d1e973, 15.10.2020.

 

Peet, Richard/Robbins, Paul/Watts J. Michael (2011): Global Political Ecology. Routledge: London. https://doi.org/10.4324/9780203842249Poulantzas, Nicos (1976): The Crisis of the Dictatorships: Portugal, Greece, Spain. London: NLB.

 

Poulantzas, Nicos (2000 [1978]): State, Power Socialism. New Edition with an Introduction by Stuart Hall. New York: Verso.

 

Sandberg, Joakim (2015): Towards a Theory of Sustainable Finance. Working Paper 15/08, UNEP. www.greengrowthknowledge.org/sites/default/files/down-loads/resource/Towards_a_Theory_of_Sustainable_Finance-2015Towards_a_Theory_of_Sustainable_Finance_UNEP.pdf, 06.05.2020.

 

Schwerhoff, Gregor/Sy, Mouhamadou (2017): Financing renewable energy in Africa – Key challenge of the sustainable development goals. In: Renew-able and Sustainable Energy Reviews 75, 393–401. https://doi.org/10.1016/j.rser.2016.11.004

 

Sovacool, Benjamin (2012): The political economy of energy poverty: A review of key challenges. In: Energy for Sustainable Development 16 (3), 272–282. https://doi.org/10.1016/j.esd.2012.05.006

 

Sovacool, Benjamin (2014): What are we doing here? Analyzing fifteen years of energy scholarship and proposing a social science research agenda. In: Energy Research and Social Science 1 (1), 1-29. https://doi.org/10.1016/j.erss.2014.02.003

 

Sovacool, Benjamin (2018): Advancing the international political economy of climate change adaptation: political ecology, political economy and social justice. In: Goldthau, Andreas/Kuzemko, Caroline/Keating, Michael (eds): Handbook of the International Political Economy of Energy and Natural Resources. Northampton: Edward Elgar Publishing, 33-49. https://doi.org/10.4337/9781783475636.00010

 

Svartzman, Romain/Dronc, Dominique/ Espagned Etienne (2019): From ecological macroeconomics to a theory of endogenous money for a finite planet. In: Ecological Economics 162, 108–120. https://doi.org/10.1016/j.ecolecon.2019.04.018127

 

Takouleu, Jean Marie (2018): South Africa: Vantage Capital invests $144 Million in six wind and solar projects. Afrik 21: Green Economy and sustainable growth in Africa, 20.08.2018. www.afrik21.africa/en/south-africa-vantage-capital-invests-144-million-in-six-wind-and-solar-projects/, 06.05.2020.

 

United Nations Environmental Programme (UNEP) (2011): Towards a Green Economy. Pathways to Sustainable Development and Poverty Eradication.

 

UNEPA: Geneva. van de Graaf, Thijs/Sovacool, Benjamin K./Ghosh, Arunabha/Kern, Florian/Klare, Michael T. (2016): States, Markets, and Institutions: Integrating International Political Economy and Global Energy Politics. In: van de Graaf, Thijs/Sova-cool, Benjamin K./Ghosh, Arunabha/ Kern, Florian/Klare, Michael T. (eds): The Palgrave Handbook of the International Political Economy of Energy. P. Basingstoke: Palgrave MacMillan, 3-44. https://doi.org/10.1057/978-1-137-55631-8_1

 

Vantage Capital (n/a): Vantage Green X: Investing in a Greener World. www.vantagecapital.co.za/green-x/, 06.05.2020Waissbein, Oliver/Glemarec, Yannick/Bayraktar, Hande/Schmidt, Tobias S. (2013): Derisking Renewable Energy Investment. A Framework to Support Policy-makers in Selecting Public Instruments to Promote Renewable Energy Invest-ment in Developing Countries. New York, NY: United Nations Development Programme.

 

World Bank (2019): 10 Years of Green Bonds: Creating the Blueprint for Sustain-ability Across Capital Markets www.worldbank.org/en/news/immersive-story/2019/03/18/10-years-of-green-bonds-creating-the-blueprint-for-sustaina-bility-across-capital-markets, 11.10.2020.

International Political Economy, green economy, green finance, renewable energy, South Africa

Soederberg, Susanne; Tawakkol, Lama

The Humanitarian-Development Nexus and the Jordan Compact: Tensions and Trajectories in Global Capitalism

Sprache: EnglischSeiten: 129 - 154https://doi.org/10.20446/JEP-2414-3197-36-4-129
  • Abstract
  • Literatur
  • Keywords

The Humanitarian-Development Nexus and the Jordan Compact: Tensions and Trajectories in Global Capitalism Abstract The humanitarian-development nexus (HDN) frames protracted refugee situations as win-win development opportunities, building on dominant tropes like sustainable development and global risk manage-ment. Focusing on the Jordan Compact as part of the HDN, we question for whom it presents opportunities, highlighting its politics and tensions. We argue that the HDN and Jordan Compact are not win-win strategies whereby refu-gees and host countries benefit equally, but rather fail forward strategies with longstanding material roots in the power relations and paradoxes of global capitalism. Moreover, the neoliberal fail forward practices both frameworks embody legitimate themselves by depoliticising capitalism’s underlying contra-dictions. We highlight how the HDN, similar to its undergirding tropes, is a political project that advances the interests of private actors over those of its intended beneficiaries.

Ababneh, Sara (2018): Do You Know Who Governs Us? The Damned Monetary Fund. In: Middle East Report Online (MERIP). https://merip.org/2018/06/do-you-know-who-governs-us-the-damned-monetary-fund/, 30.6.2018.

 

Abu-Rish, Ziad (2014): Protests, Regime Stability, and State Formation in Jordan. In: Kamrava, Mehran (ed.): Beyond the Arab Spring: The Evolving Ruling Bargain in the Middle East. Oxford: Oxford University Press, 277-312. https://doi.org/10.1093/acprof:oso/9780199384419.003.0011

 

Abu-Rish, Ziad (2012): The Political Status Quo, Economic Development, and Protests in Jordan. In: Haddad, Bassam/Bsheer, Rosie/Abu-Rish, Ziad (eds.): The Dawn of the Arab Uprisings: End of an Old Order? London: Pluto Press, 237-247. https://doi.org/10.2307/j.ctt183p77h.41

 

Al-Ajlouni, Laith Fakhri/Hartnett, Allison Spencer (2019): Making the Economy Political in Jordan’s Tax Revolts. In: Middle

East Report Online (MERIP). https://merip.org/2019/02/making-the-economy-political-in-jordans-tax-revolts/, 24.2.2019.

 

Al-Mahaidi, Ala (2020): Securing Economic Livelihoods for Syrian Refugees: the Case for a Human Rights-Based Approach to the Jordan Compact. In: The International Journal of Human Rights. https://doi.org/10.1080/13642987.2020.1763314

 

Al-Shawabkeh, Musab/Ghbari, Muhammad (2016): Jordanian MPs Pocket Tenders in the Millions. In: Amman Net. https://ammannet.net/english/jordanian-mps-pocket-tenders-millions, 19.9.2016.

 

Altvater, Elmar (2002): The Growth Obsession. In Panitch, Leo/Leys, Colin (eds.): The Socialist Register: A World of Contradictions. London: Merlin Press, 73-92.

 

Altvater, Emar (1993): The Future of the Market: An Essay on the Regulation of Money and Nature after the Collapse of “Actually Existing Socialism”. London: Verso.

 

Anholt, Rosanne/Sinatti, Giulia (2019): Under the guise of resilience: The EU approach to migration and forced displacement in Jordan and Lebanon. In: Contemporary Security Policy 41(2), 311-335. https://doi.org/10.1080/13523260.2019.1698182

 

Arar, Rawan (2017): The New Grand Compromise: How Syrian Refugees Changed the Stakes in the Global Refugee Assistance Regime. In: Middle East Law and Governance 9, 298-312. https://doi.org/10.1163/18763375-00903007

 

Bankwatch (2015): European Public Money for the Energy Sector in Countries of the European Neighbourhood Policy, 2007-2014: Executive Summary. CEE Bankwatch Network. https://bankwatch.org/publication/executive-summary-european-public-money-for-the-energy-sector-in-countries-of-the-european-neighbourhood-policy, 21.10.2020.Bayliss, Kate/Van Waeyenberge, Elisa (2018): Unpacking the Public Private Partner-ship Revival In: The Journal of Development Studies 54(4), 577-593. https://doi.org/10.1080/00220388.2017.1303671

 

Beck, Martin/Hüser, Simone (2015): Jordan and the “Arab Spring”: No Challenge, No Change? In: Middle East Critique 24(1), 83-97. https://doi.org/10.1080/19436149.2014.996996

 

Bhagat, Ali (2019): Displacement in “actually existing” racial neoliberalism: refugee governance in Paris. In: Urban Geography. https://doi.org/10.1080/02723638.2019.1659689

 

Bieling, Hans-Jürgen/Jäger, Johannes/Ryner, Magnus (2016): Regulation theory and the political economy of the European Union. In: Journal of Common Market Studies 54(1), 53-69. https://doi.org/10.1111/jcms.12331

 

Brynen, Rex (1992): Economic Crisis and Post-Rentier Democratization in the Arab World: The Case of Jordan. In: Canadian Journal of Political Science 25(1), 69-97. https://doi.org/10.1017/S000842390000192XBurlin, Alexander C. (2020): Theorizing Development Challenges in the Syrian Refugee Response in Jordan: Interests, Management, and Accountability. In: Journal of Identity and Migration Studies 14(1), 117-133.

 

EBRD (2017): Publication of Consultancy Contracts Awarded Covering Period 1 January 2017 to 31 December 2017. London: EBRD.

 

EBRD (2019): Better Governance, Better Economies. London: European Bank for Reconstruction and Development.

 

EBRD (2020): Jordan Country Strategy 2020-2025. Amman: EBRD.EBRD (n.d.-a): MR3: West Irbid Wastewater Project. www.ebrd.com/work-with-us/projects/psd/mr3-west-irbid-wastewater-project.html, 17.10.2019.

 

EBRD (n.d.-b): Ain Ghazal Wastewater Project. www.ebrd.com/work-with-us/projects/psd/ain-ghazal-wastewater-project.html, 17.10.2019.

 

EIB (2018): Deir Alla Water Supply and Sanitation. www.eib.org/en/projects/pipe-lines/all/20180058, 17.10.2019.

 

EIB (2019): Jordan: EIB Provides a Grant of EUR 16.3 Million to Support the Implementation of Deir Alla and Al-Karamah Project. www.eib.org/en/press/all/2019-273-eib-provides-a-grant-of-eur-163-million-to-support-the-implemen-tation-of-deir-alla-and-al-karamah-project-in-jordan, 17.10.2019.

 

European Commission (2016a): Annex to the Joint Proposal for a COUNCIL DECISION on the Union position within the Association Council set up by the Euro-Mediterranean Agreement establishing an association between the European Communities and their Member States, of the one part, and the Hashemite Kingdom of Jordan, of the other part, with regard to the adoption of EU-Jordan Partnership Priorities and annexed Compact. Brussels: European Commission.

European Commission (2016b): Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions – Lives in Dignity: from Aid-dependence to Self-reliance. Brussels:

 

European Commission.European Commission (2018): Action Document: West Irbid Waste Water Network Construction with EBRD. https://ec.europa.eu/trustfund-syria-region/sites/tfsr/files/madad_action_document_7th_ob_west_irbid_waste_water_network_construction_with_ebrd.pdf, 17.10.2019.

 

European Commission (2019): EU Confirms Support to Jordan with €100 Million Loan under Macro-Financial Assistance Programme and High-level Mission of Commissioner Hahn. https://ec.europa.eu/neighbourhood-enlargement/news_corner/news/eu-confirms-support-jordan-€100-million-loan-under-macro-financial-assistance_en, 24.6.2019.

 

Greenwood, Scott (2003): Jordan’s “New Bargain:” The Political Economy of Regime Security. In: Middle East Journal 57(2), 248-268.

 

Hanieh, Adam (2012): Egypt’s Orderly Transition: International Aid and the Rush to Structural Adjustment. In: Haddad, Bassam/Bsheer, Rosie/Abu-Rish, Ziad (eds.): The Dawn of the Arab Uprisings: End of an Old Order? London: Pluto Press, 124-136. https://doi.org/10.2307/j.ctt183p77h.24

 

Hanieh, Adam (2013): Lineages of Revolt: Issues of Contemporary Capitalism in the Middle East. Chicago: Haymarket

Books.

 

Harrigan, Jane/El-Said, Hamed (2009): Aid and Power in the Arab World: IMF and World Bank Policy-Based Lending in the Middle East and North Africa. New York: Palgrave Macmillan. https://doi.org/10.1057/9781137001597

 

Hendow, Maegan (2019): Bridging refugee protection and development: Policy Recommendations or Applying a Development-Displacement Nexus Approach. Vienna: International Centre for Migration Policy Development.

 

Huang, Cindy/Charles, Sarah/Post, Lauren/Gough, Kate (2018): Tackling the Real-ities of Protracted Displacement: Case Studies on What’s Working and Where We Can Do Better. Washington, DC and New York: Center for Global Devel-opment and International Rescue Committee.ILO (2020): World Employment and Social Outlook: Trends 2020. Geneva: Inter-national Labour Organization. https://doi.org/10.1002/wow3.159

 

IMF (2020a): IMF Executive Board Approves US$1.3 Billion Extended Arrange-ment Under the Extended Fund Facility for Jordan. www.imf.org/en/News/Articles/2020/03/25/pr20107-jordan-imf-executive-board-approves-us-1-3-bn-extended-arrangement-under-the-eff, 26.3.2020.IMF (2020b): Key Questions on Jordan. www.imf.org/en/Countries/JOR/FAQ, 25.3.2020.151

 

The Humanitarian-Development Nexus and the Jordan CompactInterview (2020): Personal Interview with Multilateral Development Bank Officials, 13.2.2020.

 

IRC (2017a): Evidence Based Policy Review: The Jordan Compact. London: Inter-national Rescue Committee. www.rescue.org/report/jordan-compact-evidence-based-policy-review-april-2017, 17.10.2019.

 

IRC (2017b): In Search of Work: Creating Jobs for Syrian Refugees: A Case Study of the Jordan Compact. London: International Rescue Committee.

 

Kelberer, Victora (2017): Negotiating Crisis: International Aid and Refugee Policy in Jordan. In: Middle East Policy 24(4), 148-165. https://doi.org/10.1111/mepo.12313

 

Lenner, Katharina/Turner, Lewis (2018): Making Refugees Work? The Politics of Integrating Syrian Refugees into the Labor

Market in Jordan. In: Middle East Critique 28(1), 65-95. https://doi.org/10.1080/19436149.2018.1462601

 

Mayer, Margit (2020): What does it mean to be a (radical) urban scholar-activist, or activist scholar, today? In: City 24(1-2), 35-51. https://doi.org/10.1080/13604813.2020.1739909Meral, Amanda Gray (2019): Assessing the Jordan Compact One Year On: An Opportunity or a Barrier to Better Achieving Refugees‘ Right to Work. In: Journal of Refugee Studies 33(1), 42-61. https://doi.org/10.1093/jrs/fez074

 

Mikulewicz, Michael/Taylor, Marcus (2020): Getting the Resilience Right: Climate Change and Development Policy in the “African Age”. In: New Political Economy 25(4), 626-641. https://doi.org/10.1080/13563467.2019.1625317

 

Momani, Bessma (2020): Jordan, IFIs, and Social Justice. In: Radwan, Tarek (ed.): The Impact and Influence of International Financial Institutions on the Econo-mies of the Middle East and North Africa. Tunis: Friedrich Ebert Stiftung, 61-72.

 

Morris, Julia (2020): Extractive Landscapes: The Case of the Jordan Refugee Compact. In: Refuge 36(1), 87-96. https://doi.org/10.25071/1920-7336.40623

 

OECD (2014): Water Governance in Jordan: Overcoming the Challenges to Private Sector Participation, OECD Studies on Water.

 

OECD Publishing.Oxfam (2019): The Humanitarian-Development-Peace Nexus. Oxfam Discussion Paper. Oxford: Oxfam.

 

Panizzon, Marion (2019): The EU-Jordan compact in a trade law context: prefer-ential access to the EU market to ‘Keep Refugees in the Region’. In: Carrera, Sergio/Vera Juan Santos/Strik, Tineke (ed.): Constitutionalising the External Dimensions of EU Migration Policies in Times of Crisis, Legality, Rule of Law and Fundamental Rights Reconsidered. Cheltenham: Edward Elgar, 220-237. https://doi.org/10.4337/9781788972482.00020

 

Parkes, Roderick/Pauwels, Annelies (2017): The refugee-development nexus. Brief Issue 2. Brussels: European Union Institute for Security Studies.

 

Peck, Jamie/Tickell, Adam (2002): Neoliberalizing Space. In: Antipode 34(3), 380-404. https://doi.org/10.1111/1467-8330.00247

 

Peet, Richard/Robbins, Paul/Watts, Michael, J. (2011): Global Political Ecology. New York: Routledge. https://doi.org/10.4324/9780203842249152Sff2011fl S6fl9fl57fl54

 

Pender, John (2001): From “Structural Adjustment” to “Comprehensive Develop-ment Framework”: Conditionality Transformed? In: Third World Quarterly 22(3), 397-411. https://doi.org/10.1080/01436590120061679

 

Peters, Anne Muriel/Moore, Pete W. (2009): Beyond Boom and Bust: External Rents, Durable Authoritarianism, and Institutional Adaptation in the Hash-emite Kingdom of Jordan. In: Studies in Comparative International Develop-ment 44, 256-285. https://doi.org/10.1007/s12116-009-9053-0

 

Rist, Gilbert (2007): Development as a buzzword. In: Development in Practice 17(4-5), 485-491. https://doi.org/10.1080/09614520701469328

 

Robins, Philip (2019): A History of Jordan. Cambridge: Cambridge University Press.Ryan, Curtis R. (1998): Peace, Bread and Riots: Jordan and the Interna-tional Monetary Fund. In: Middle East Policy 6(2), 54-66. https://doi.org/10.1111/j.1475-4967.1998.tb00308.x

 

Seeberg, Peter (2016): Jordan, the European Neighbourhood Policy, and Common-alities of Interest: Building a Security Partnership Rather Than a Secu-rity Community. In: Rieker, Pernille (ed.): External Governance as Security Community Building: The Limits and Potential of the European Neighbour-hood Policy. London: Palgrave Macmillan, 163-186. https://doi.org/10.1057/978-1-137-56169-5_7

 

Seeberg, Peter (2020): Syrian Refugees in Jordan and their Integration in the Labour Market: Jordanian Migration Diplomacy and EU Incentives. In: Medi-terranean Politics. https://doi.org/10.1080/13629395.2020.1758452

 

Shields, Stuart (2020): The EBRD, Fail Forward Neoliberalism and the Construc-tion of the European Periphery. In: The Economic and Labor Relations Review. https://doi.org/10.1177%2F1035304620916652

 

Soederberg, Susanne (2004): The Politics of the New International Financial Architec-ture: Reimposing Neoliberal Domination in the Global South. London: Zed Books. Soederberg, Susanne (2017): Universal Access to Affordable Housing? Interrogating an Elusive Development Goal. In: Globalizations 14(3), 343-359. https://doi.org/10.1080/14747731.2016.1253937

 

Soederberg, Susanne (forthcoming) Urban Displacements: Governing Surplus and Survival in Global Capitalism. London: Routledge.SUEZ (n.d.): Nearly Energy Self-Sufficient Treatment and Recycling of Wastewater in the Region of Amman, Jordan. www.suez.com/en/our-offering/success-stories/our-references/as-samra-wastewater-and-biosolids-treatment-and-reuse, 17.10.2020.

 

United Nations (2017): World Economic and Social Survey 2017: Reflecting on seventy years of development policy analysis, Department of Economic and Social Affairs. New York: United Nations.

 

United Nations (2019): The Sustainable Development Goals Report 2019. New York: United Nations.

 

United Nations (2020): World Social Report 2020: Inequality in a Rapidly Changing World, Department of Economic and Social Affairs. New York: United Nations.

 

United Nations Development Programme (UNDP) (2016): Generation of Change: The Resilience-Based Development Response in the Context of the Syria Crisis. New York: UNDP.

 

United Nations General Assembly (1987): Report of the World Commission on Environment and Development: Our Common Future. Oslo: United Nations General Assembly, Development and International Cooperation: Environment.

 

Wils, Oliver (2004): From Negotiation to Rent Seeking, and Back? Patterns of State-Business Interaction and Fiscal Policy Reform in Jordan. In: Heyde-mann, Steven (ed.): Networks of Privilege in the Middle East: The Politics of Economic Reform Revisited. New York: Palgrave Macmillan, 133-165. https://doi.org/10.1057/9781403982148_5

 

World Bank (2014): World Development Report 2014: Risk and Opportunity. Washington, DC: World Bank Group.

 

World Bank (2016): Country Partnership Framework for Hashemite Kingdom of Jordan FY17-FY22. Washington, DC: World Bank.

 

World Bank (2017): Jordan Economic Monitor: The Green Economic Boost. Wash-ington, DC: World Bank.

 

World Bank (2018a): Beyond Scarcity: Water Security in the Middle East and North Africa. Washington, DC: World Bank.

 

World Bank (2018b): First and Second Programmatic Energy and Water Sector Reforms Development Policy Loans: Implementation Completion and Results Report. Washington, DC: World Bank.

 

World Bank (2020): International Debt Statistics Country Tables: Jordan. Wash-ington, DC: World Bank. https://datatopics.worldbank.org/debt/ids/country/JOR#, 17.10.2020

Humanitarian-Development Nexus, Jordan Compact, fail forward neoliberalism, global capitalism, development finance

Ribeiro, Ana Beatriz

From Water to Wine: Becoming Middle Class in Angola

Sprache: EnglishSeiten: 177-180
  • Abstract

Book Review

Contact
Mattersburger Kreis für Entwicklungspolitik
an den österreichischen Universitäten
Sensengasse 3
1090 Vienna, Austria

T +43 1 317 40 17
E office@mattersburgerkreis.at
Subscribe to our Newsletter
© 2015 Mattersburger Kreis für Entwicklungspolitik an den österreichischen Universitäten | Impressum
Display: