The Development Business: A History of the Commonwealth Development Corporation

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9780333800577: The Development Business: A History of the Commonwealth Development Corporation

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.

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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.

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Book Description Palgrave MacMillan, United Kingdom, 2001. Hardback. Book Condition: New. 2001 ed.. Language: English . Brand New Book. A study of institutional transformation over fifty years that mirrors changing perceptions of economic development in Britain s aid policies. CDC s evolving experience of project management, development banking and venture capital investment has combined with a growing focus on the private sector and on poorer countries. Its development impact is increasingly seen in terms of achieving economic externalities. Forthcoming privatization raises new issues of the compatibility of CDC s developmental role with meeting the requirement of private investors and capital markets. Bookseller Inventory # SPR9780333800577

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