The dual transformation in development finance: western multilateral development banks and China in post-Soviet energy

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buir.contributor.authorKöstem, Seçkin
buir.contributor.orcidKöstem, Seçkin|0000-0001-8356-444X
dc.citation.epage200en_US
dc.citation.issueNumber1
dc.citation.spage176en_US
dc.citation.volumeNumber30
dc.contributor.authorGroce, M. S.
dc.contributor.authorKöstem, Seçkin
dc.date.accessioned2022-02-15T12:44:58Z
dc.date.available2022-02-15T12:44:58Z
dc.date.issued2021-09-27
dc.departmentDepartment of International Relationsen_US
dc.description.abstractThe energy resources of Central Asia and the Caucasus have drawn significant scholarly attention due to their geopolitical importance and role in regional economic development. Western multilateral development banks (MDBs), such as the World Bank and the EBRD, have been the leading actors shaping norms and practices for lending to the energy sectors of these regions. China has also recently emerged as the top investor in hydrocarbons and renewables in Central Asia, at the same time increasing its presence in the Caucasus. How have Western MDBs and China shaped each other’s lending practices? By exploring the what and the how of development finance in the energy sectors of Central Asia and the Caucasus, this study argues that a dual transformation is under way. The World Bank and the EBRD are now working closely with key local stakeholders in the recipient states to make energy reforms more successful. China, on the other hand, is now cooperating more closely with Western MDBs, and accepting and implementing some of their market principles and environmental targets. The article demonstrates that the West vs. China dichotomy based on neoliberalism vs. state-capitalism is blurred and the post-Soviet energy sector includes features of both models.en_US
dc.identifier.doi10.1080/09692290.2021.1974522en_US
dc.identifier.eissn1466-4526
dc.identifier.issn0969-2290
dc.identifier.urihttp://hdl.handle.net/11693/77389
dc.language.isoEnglishen_US
dc.publisherRoutledgeen_US
dc.relation.isversionofhttps://doi.org/10.1080/09692290.2021.1974522en_US
dc.rightsCC BY 4.0 DEED (Attribution 4.0 International)
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.source.titleReview of International Political Economyen_US
dc.subjectEnergyen_US
dc.subjectDevelopment financeen_US
dc.subjectWorld Banken_US
dc.subjectEBRDen_US
dc.subjectChinaen_US
dc.subjectDual transformationen_US
dc.titleThe dual transformation in development finance: western multilateral development banks and China in post-Soviet energyen_US
dc.typeArticleen_US
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