Contenu du sommaire : Financement ou financiarisation du développement ?

Financialization, which applies the financial logic of valorizing capital to the financing of development, is linked to the presence of new players. For official development assistance, it is characterized by the use of leverage, which is supposed to multiply its effectiveness but which can lead to biases in the choice of development objectives. Thus, for agriculture, it would tend to disadvantage family farms.

This article deals with financialization as a process of transformation of the world through practices, theories and instruments born in the financial sector and now used to reshape questions that are a priori very disparate (such as social, environmental, educational or cultural ones). This financialization of public policies seems to stem from the project of mobilizing private savings in order to loosen the financial constraints of the public authorities. We distinguish different operations that together constitute what we call the "work of financialization."

Starting with the evolution of the microfinance sector over the last three decades, this article captures the characteristics of the financialization of microfinance. The analysis allows for a questioning of the link between the microfinance sector and the logics of development, as well as the risks induced by the process of financialization. In coming to a conclusion with regard to the perception of the sector as a common good, the article tries to learn the necessary lessons for the financialization of development aid.

Financing Agricultural Development in South Africa: From a Banking State to an Investor State The agricultural sector in South Africa has been particularly strategic for the country since the early twentieth century. Concurrently representing a building block of the national accumulation system centered on mines, a reservoir of votes for the National Party during apartheid and a core element of the post-apartheid economic and social transformation, agriculture has been a major focus of attention for successive governments. In this respect, the state has set up institutions and original arrangements to finance agricultural production and "modernization." This article proposes an analysis of these original public policy instruments in order to better understand the mechanisms and forms of the financialization processes of public action, both in its ends and in its means.

There is presently a focus on external sources (public and private) to finance development efforts. In view of the scant attention given to alternative sources such as domestic resource mobilization and the persistence of important anomalies, (inefficient tax systems, tax evasion, illicit financial flows) this article explores the possibility that the current focus may be symptomatic of the absence of debate concerning the choices of strategies and practices of the donor community.

In 2014, the international official financing for development amounted to 245 billion dollars, just over 1% of total investment in the world, which adds up to trillions of dollars. Does this imply the inevitable marginalization of public actors? Quite the contrary. The overall figures reveal the essential point: the irreplaceable role of public development donors when they are able to adjust their policies, practices and instruments.

The aim of this article is to present and to comment on Charles Bettelheim's analyses concerning Cuban economic planning during the 1960s. This work, developed essentially through the study of unpublished texts appearing in his archives, allows us to highlight his main concerns about Cuban planning and their modifications in relation to the evolution of the Cuban revolutionary process and his own theoretical reflection.

The Peasant Cooperative Movement plays a key role in Nicaragua. It facilitates the survival and adaptation of family and peasant farming in the context of neoliberal globalization. At the same time, it constitutes the main advocate for the emergence of alternative development paths in rural areas. This article tests the LAFS as a relevant analytical grid for stylized facts built from field research. On the basis of an iterative approach, the paper then proposes to extend the said grid. In order to improve the compatibility between field results and this theoretical framework, the inclusion of a political dimension is put forward.

The objective of this article is to examine the impact of human resource management (HRM) practices on the social performance of the Decentralized Territorial Communities (DTC) in Cameroon. The analysis based on a sample of 166 DTC has, through statistical and econometric tests, showed that there is a positive relationship between HRM practices and the social performance of DTC. In general, it appears from our study that the formalization of HRM practices within the DTC underlies the modernization of local management.