ABSTRACT
In this chapter we analyze the increased financialization of the development sector. We position this increased reliance on financial logics in development in a historical context, particularly the post–Washington Consensus. The chapter analyses the role of state-owned development finance institutions (DFIs) as accelerators of financialization and the various ways DFIs act to responsibilize the market, particularly through the discourse of corporate social responsibility (CSR) and public–private partnerships. We identify five key modes through which financialization occurs in DFIs, namely (1) financialization through organization, (2) financialization through inward financing, (3) financialization through outward investment, (4) financialization through secrecy jurisdictions, and (5) financialization through valuation.
