Development Banks: Washington Consensus, Beijing Consensus or Banking Consensus?



Publication Details

Bazbauers, A. R. & Engel, S. N. (2020). Development Banks: Washington Consensus, Beijing Consensus or Banking Consensus?. In V. Jakupec, M. Kelly & J. Makuwira (Eds.), Rethinking Multilateralism in Foreign Aid: Beyond the Neoliberal Hegemony (pp. 113-131). Abingdon, Oxon: Routledge.


This edited book provides a contemporary, critical and thought-provoking analysis of the internal and external threats to Western multilateral development finance in the twenty-first century. It draws on the expertise of scholars with a range of backgrounds providing a critical exploration of the neoliberal multilateral development aid. The contributions focus on how Western institutions have historically dominated development aid, and juxtapose this hegemony with the recent challenges from right-wing populist and the Beijing Consensus ideologies and practices. This book argues that the rise of right-wing populism has brought internal challenges to traditional powers within the multilateral development system.  External challenges arise from the influence of China and regional development banks by providing alternatives to established Western dominated aid sources and architecture. From this vantagepoint, Rethinking Multilateralism in Foreign Aid puts forward new ideas for addressing the current global social, political and economic challenges concerning multilateral development aid.  This book will be of interest to researchers, academics and students in the field of International Development and Global Governance, decision-makers at government level as well as to those working in international aid institutions, regional and bilateral aid agencies, and non-governmental organisations.

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