Home » Resources » International financial Institutions » » Corner House Briefing Paper » » all

Resources: International financial Institutions, Corner House Briefing Paper

6 results

A (Crumbling) Wall of Money
Financial Bricolage, Derivatives and Power
Nicholas Hildyard

9 October 2008

39. Financial entrepreneurs created a 'shadow banking system' over the past 30 years to circumvent regulation and to offload risk onto others, relying on 'derivatives' and 'securitisation'. They generated easy credit that fuelled a boom in corporate mergers and acquisitions across the United States and Europe, and that enabled companies involved in mining, biofuels, private health care, water supply, infrastructure and forestry to expand their activities significantly. When the pyramid of deals came tumbling down, however, the public had to bear the costs.

file icon39. Wall Money

Sovereign Wealth Funds

Some Frequently Asked Questions
Kavaljit Singh

8 October 2008

38. The current protectionist backlash against state-owned sovereign wealth funds (SWFs), particularly from the Middle East and China, stems from Western policy makers' fears that SWFs follow strategic political objectives rather than commercial interests, investing in Western companies and banks to secure control of strategically important industries such as telecommunications, energy and banking. This paper examines these fears in order to understand the potential impact and implications of sovereign wealth funds in a rapidly-changing global political economy.

file icon38.Sovereign Wealth Funds

Underwriting Bribery
Export Credit Agencies and Corruption
Susan Hawley

15 December 2003

The taxpayer-backed export credit agencies of industrialised countries are underwriting the bribery and corruption of large, mainly Western, companies operating abroad.

file icon30.ECA Underwrite Bribery

Snouts in the Trough
Export Credit Agencies, Corporate Welfare and Policy Incoherence
Nicholas Hildyard

30 June 1999

Projects backed by export credit agencies (ECAs) are frequently environmentally destructive, socially oppressive or financially unviable. It is the poorest people in the countries where the projects are located who end up paying the bill. With rare exceptions, the major ECAs lack mandatory environmental and development standards, and are secretive and unaccountable.

Missing the Point of Development Talk
Reflections for Activists
Larry Lohmann

31 August 1998

“Third World development” seldom achieves its stated objectives and is repeatedly discovered to be based on false assumptions. Although discredited, however, it has survived and flourished. This briefing asks to what extent development’s critics have inadvertently increased both its longevity and its capacity to produce falsehoods and failure. Forging an effective critical activism requires reexamining the dynamic between development projects and their opponents, helpers and beneficiaries.

file iconMISSING THE POINT.pdf

Whose Voice Is Speaking?
How Opinion Polls and Cost-Benefit Analysis Synthesize New “Publics”
Larry Lohmann

31 May 1998

Opinion polls and cost-benefit analysis, like public relations, attempt to construct new, simplified “publics” which are friendly to bureaucracies, politicians and corporations. The success of these attempts is limited by popular resistance at many levels. For a related article, see http://www.thecornerhouse.org.uk/resource/toward-different-debate-environmental-accounting.