Insight: Gambling on development: investing in fragile states

Over the last thirty years, in many developing economies, poverty has fallen, people live longer and healthier lives, and economies have been transformed. But this is not the case across the board. In his new book, “Gambling on Development: Why some countries win and others lose”, former Chief Economist at the Department for International Development, and Policy Advisor to the Foreign Secretary, Stefan Dercon, asks why some of the previously poorest countries have prospered, while others have failed. He argues that development is most likely to happen when a country’s elites want it to happen – what he calls a ‘development bargain’. Join us for a conversation with Stefan where we explore the implications of this thesis for the role of impact investors, including development finance institutions (DFIs), in fragile and conflict-affected countries. For example, the track record of DFIs in fragile states is mixed. Should DFIs focus on countries where a ‘development bargain’ looks likely? The event is chaired by British International Investment’s Colin Buckley, Managing Director and General Counsel. Colin is joined by panellist Vivianne Infante, Head of The Africa Resilience Investment Accelerator (ARIA), and Paddy Carter, our Director of Research and Policy.