Diamond pricing and valuation in South Africa’s extractive political economy

Khadija Sharife and Sarah Bracking

Review of African Political Economy, 2016, vol. 43, issue 150, 556-575

Abstract: This article explores the valuation and marketisation of diamonds in South Africa from 2004 to 2012. It argues that there is no positivist foundation for a ‘real’ or ‘fair’ price from which derogations can be measured, which constitutes a challenge for establishing transfer pricing in the context of tax justice. Instead, there is a performative valuation process wherein artificial underlying values are assigned which then condition prices and tax liabilities. Thus it is not the essential nature of diamonds per se that conditions a ‘resource curse’, but corporate control over the marketisation process in the context of enclavity and oligopoly.

Date: 2016
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DOI: 10.1080/03056244.2016.1177504

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Review of African Political Economy is currently edited by Graham Harrison, Branwen Gruffydd Jones, Claire Mercer, Nicolas Pons-Vignon, Aurelia Segatti and Ray Bush

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