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The Development Business

A History of the Commonwealth Development Corporation

  • Book
  • © 2001

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Authors:
  1. Michael McWilliam
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Table of contents (25 chapters)

  1. Front Matter

    Pages i-xvii
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  2. A Will to Succeed 1948–62

    1. Front Matter

      Pages 1-1
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    2. Planning for a Better World

      • Michael McWilliam
      Pages 3-10

    3. Tropical Allsorts: A False Start

      • Michael McWilliam
      Pages 11-25

    4. Stemming the Losses

      • Michael McWilliam
      Pages 26-35

    5. Adjusting the Mandate

      • Michael McWilliam
      Pages 36-53

    6. Financial Reorganisation

      • Michael McWilliam
      Pages 54-62

    7. The Score Card

      • Michael McWilliam
      Pages 63-65

  3. An Agency for Development 1963–79

    1. Front Matter

      Pages 67-67
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    2. Easing the Funding Constraint

      • Michael McWilliam
      Pages 68-74

    3. Aid and Development

      • Michael McWilliam
      Pages 75-85

    4. Jubilee Stocktaking

      • Michael McWilliam
      Pages 86-112

    5. Targeting the Poor

      • Michael McWilliam
      Pages 113-116

  4. Making a Business of Development 1980–93

    1. Front Matter

      Pages 117-117
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    2. Commercial Borrowing Mirage

      • Michael McWilliam
      Pages 119-128

    3. A Salvage Proposal

      • Michael McWilliam
      Pages 129-132

    4. Nothing But a Bank

      • Michael McWilliam
      Pages 133-136

    5. The Fan Club

      • Michael McWilliam
      Pages 137-142

    6. A Major Review

      • Michael McWilliam
      Pages 143-154

    7. A New Era

      • Michael McWilliam
      Pages 155-164
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Keywords

About this book

The Commonwealth development Corporation (CDC) was launched with all-party support as one of the initiatives to build a better post-war world. After a troubled start it earned its role as Britain's development agency. The chairmanship of Lord Reith in the 1950s left a legacy of robust independence within the public sector framework. Few public sector businesses escaped privatisation by the Conservative Governments of the 1980s and 1990s, yet CDC was exempted. The first privatisation announcement of the New Labour Government in 1997 was in respect of CDC and enabling legislation has since been passed to provide for a long-term public-private partnership. The compatibility of a continuing development role with meeting the requirements of investors is still controversial as CDC adapts its operations to those of a private equity fund for emerging economies. Sir Michael McWilliam has written a study of institutional transformation that reflects changing perceptions of the role of development agencies. His membership of the CDC Board and access to its records give authority to this appraisal and to the discussion of the proposed privatisation.

About the author

SIR MICHAEL MCWILLIAM KCMG was a member of the Board of Commonwealth Development Corporation from 1980-86. After a career in banking leading to the post of Chief Executive of Standard Chartered Bank from 1983-88, he was appointed Director of the School of Oriental and African Studies from 1989-96 and is an honorary fellow of the School. Sir Michael is chairman of the Royal Commonwealth Society and of The Royal African Society.

Bibliographic Information

  • Book Title: The Development Business

  • Book Subtitle: A History of the Commonwealth Development Corporation

  • Authors: Michael McWilliam

  • DOI: https://doi.org/10.1057/9780230504271

  • Publisher: Palgrave Macmillan London

  • eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)

  • Copyright Information: Palgrave Macmillan, a division of Macmillan Publishers Limited 2001

  • Hardcover ISBN: 978-0-333-80057-7Published: 03 December 2001

  • Softcover ISBN: 978-1-349-42069-8Published: 01 January 2001

  • eBook ISBN: 978-0-230-50427-1Published: 03 December 2001

  • Edition Number: 1

  • Number of Pages: XVII, 296

  • Topics: Development Economics, Banking, Organization, Management

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