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Paper short abstract

We use the paper to examine the shifting boundaries and ideas of development financing. We examine recent trends and changes and what these mean for who gets to participate in development financing and on what terms.

Paper long abstract

What is development financing, who should engage in it, and on what basis? We consider this question through a study of contemporary policy trends, exploring the shifting boundaries and ideas of development financing. Our analysis draws from sociological theorising on moral economies which draws attention to the underlying norms that guide, shape and limit economic activity. We apply this lens to materials from key policy for a such as the Financing for Development initiative, aid ‘modernisation’ agenda and ‘beyond aid’ approaches, The Summit for a New Global Financing Pact, and progress on global tax policy reforms. We highlight differing and sometimes opposing visions for redistribution that circulate within the decolonial turn in development financing, including through the Bridgetown Initiative and advocacy for reparative justice. We ask what these heterogenous visions mean for the (de)legitimisation of specific actors and forms of resource transfer, for development outcomes, and for the fragile progress towards the Sustainable Development Goals. We conclude by highlighting opportunities arising for research and policy in this area.