Development finance: A conceptual definition

Abdul Latif Alhassan ()
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Abdul Latif Alhassan: Graduate School of Business, University of Cape TownDevelopment

Development Finance Agenda, 2023, vol. 8, issue 5, 16-18

Abstract: Development finance has traditionally been associated with development finance institutions since the 1940s with the establishment of the International Bank for Reconstruction and Development. Although the practice of financing for development has evolved to cover traditional financial and non-financial institutions, the definition of development finance as a concept appears to have received limited attention in academic discourse, resulting in a lack of clarity on its scope. This paper presents a conceptual definition of development finance as ‘an approach to funding developmental outcomes which covers strategies, principles/processes and instruments employed by multiple development stakeholders to mobilize and align finance for sustainability’. The dimensions underlying the proposed definition are discussed to develop a contextual understanding of development finance as a professional and academic discipline.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:afj:journ4:v:8:y:2023:i:5:p:16-18

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