Les pratiques publiques de capital-investissement en faveur du développement
Since the early 2000s, public practices regarding private equity have sought to put finance in the service of development. The aim is to provide equity capital to companies that need it while demonstrating the profitability of such investments. Official development assistance thus aims to meet the f...
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| Format: | Article |
| Language: | English |
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Association Recherche & Régulation
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| Series: | Revue de la Régulation |
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| Online Access: | https://journals.openedition.org/regulation/19065 |
| Summary: | Since the early 2000s, public practices regarding private equity have sought to put finance in the service of development. The aim is to provide equity capital to companies that need it while demonstrating the profitability of such investments. Official development assistance thus aims to meet the financing needs of the private sector in “developing countries” and to encourage private capital owners to invest in them. This article explores private equity as a form of financialized action that reconfigures the logics of public development regulation. In this context, the shareholder state assumes the role of a financial market creator and a risk manager. The demonstration is based on two main arguments. One concerns the transformation of the relationship between the state and financial markets: as the practice of public shareholding creates a private equity industry through a process of public instrumentation of finance. The other concerns what profitability does to development issues: as the process of financialization favours a reinterpretation of public action issues in terms of return. |
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| ISSN: | 1957-7796 |