Throughout the 2000s, the World Bank seems to have undergone a paradigm shift from a neoliberal, market-oriented agenda to a more state-centric approach with increased attention to national...Show moreThroughout the 2000s, the World Bank seems to have undergone a paradigm shift from a neoliberal, market-oriented agenda to a more state-centric approach with increased attention to national particularities in policy design. However, in contrast to the recent enthusiasm by a variety of authors does this thesis argue that the increased attention to the role of institutions and politics in socio-economic development has merely been discursive. The here presented historical analysis of Malawi’s political economy since 1979 shows that there have been little actual changes to the Bank’s policies over the years, to the detriment of equitable socio-economic development in Sub-Saharan Africa. A continued focus on neoclassical economic theory and a lack of attention to national political economy are largely to blame. This thesis holds that to improve socio-economic development, development in practice needs to be transformed by moving beyond overtly theoretical and technocratic approaches and recognizing the inherent political nature of economies, instead of viewing the socio-political order underlying market relationships as an isolated given.Show less
