{"title":"消除发展主义的风险:绿色氢的故事","authors":"Daniela Gabor, Ndongo Samba Sylla","doi":"10.1111/dech.12779","DOIUrl":null,"url":null,"abstract":"<p>In the global race to scale up green hydrogen, a renewed appetite for the visible hand of the state once again promises to expand developmental space for low- and middle-income countries. On the African continent, several countries have announced green industrialization ambitions that rely on mobilizing, through various ‘derisking’ schemes, private (institutional) capital looking for investible opportunities. To examine the transformative potential of this new <i>derisking developmentalism</i>, this article extends the critical macrofinance lens to include Thandika Mkandawire's theorization of post-independence African developmental states. Using Namibia as an illustration, it argues that an assumption of ‘divine coincidence’ creates the ideological space for the state to forge derisking blocs but structurally weakens its ability to discipline private capital into pursuing green industrialization. As (foreign) capital dominates the state‒capital relationship in derisking developmentalism, the new green rules written by powerful investors and global North governments threaten to transform global South countries into consumers of green hydrogen technology and generators of yield for portfolio investors, thus reinforcing the structural drivers of their ongoing external debt vulnerabilities. Instead, countries should experiment with green public ownership and partnerships that discipline local green industries. Such strategies require replacing the Wall Street Consensus with a supportive global macrofinancial framework the authors call ‘Green Bandung Woods’.</p>","PeriodicalId":48194,"journal":{"name":"Development and Change","volume":"54 5","pages":"1169-1196"},"PeriodicalIF":3.0000,"publicationDate":"2023-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/dech.12779","citationCount":"1","resultStr":"{\"title\":\"Derisking Developmentalism: A Tale of Green Hydrogen\",\"authors\":\"Daniela Gabor, Ndongo Samba Sylla\",\"doi\":\"10.1111/dech.12779\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>In the global race to scale up green hydrogen, a renewed appetite for the visible hand of the state once again promises to expand developmental space for low- and middle-income countries. On the African continent, several countries have announced green industrialization ambitions that rely on mobilizing, through various ‘derisking’ schemes, private (institutional) capital looking for investible opportunities. To examine the transformative potential of this new <i>derisking developmentalism</i>, this article extends the critical macrofinance lens to include Thandika Mkandawire's theorization of post-independence African developmental states. Using Namibia as an illustration, it argues that an assumption of ‘divine coincidence’ creates the ideological space for the state to forge derisking blocs but structurally weakens its ability to discipline private capital into pursuing green industrialization. As (foreign) capital dominates the state‒capital relationship in derisking developmentalism, the new green rules written by powerful investors and global North governments threaten to transform global South countries into consumers of green hydrogen technology and generators of yield for portfolio investors, thus reinforcing the structural drivers of their ongoing external debt vulnerabilities. Instead, countries should experiment with green public ownership and partnerships that discipline local green industries. Such strategies require replacing the Wall Street Consensus with a supportive global macrofinancial framework the authors call ‘Green Bandung Woods’.</p>\",\"PeriodicalId\":48194,\"journal\":{\"name\":\"Development and Change\",\"volume\":\"54 5\",\"pages\":\"1169-1196\"},\"PeriodicalIF\":3.0000,\"publicationDate\":\"2023-07-11\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://onlinelibrary.wiley.com/doi/epdf/10.1111/dech.12779\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Development and Change\",\"FirstCategoryId\":\"90\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1111/dech.12779\",\"RegionNum\":2,\"RegionCategory\":\"社会学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"DEVELOPMENT STUDIES\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Development and Change","FirstCategoryId":"90","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/dech.12779","RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"DEVELOPMENT STUDIES","Score":null,"Total":0}
Derisking Developmentalism: A Tale of Green Hydrogen
In the global race to scale up green hydrogen, a renewed appetite for the visible hand of the state once again promises to expand developmental space for low- and middle-income countries. On the African continent, several countries have announced green industrialization ambitions that rely on mobilizing, through various ‘derisking’ schemes, private (institutional) capital looking for investible opportunities. To examine the transformative potential of this new derisking developmentalism, this article extends the critical macrofinance lens to include Thandika Mkandawire's theorization of post-independence African developmental states. Using Namibia as an illustration, it argues that an assumption of ‘divine coincidence’ creates the ideological space for the state to forge derisking blocs but structurally weakens its ability to discipline private capital into pursuing green industrialization. As (foreign) capital dominates the state‒capital relationship in derisking developmentalism, the new green rules written by powerful investors and global North governments threaten to transform global South countries into consumers of green hydrogen technology and generators of yield for portfolio investors, thus reinforcing the structural drivers of their ongoing external debt vulnerabilities. Instead, countries should experiment with green public ownership and partnerships that discipline local green industries. Such strategies require replacing the Wall Street Consensus with a supportive global macrofinancial framework the authors call ‘Green Bandung Woods’.
期刊介绍:
Development and Change is essential reading for anyone interested in development studies and social change. It publishes articles from a wide range of authors, both well-established specialists and young scholars, and is an important resource for: - social science faculties and research institutions - international development agencies and NGOs - graduate teachers and researchers - all those with a serious interest in the dynamics of development, from reflective activists to analytical practitioners