Contemporary dependencies: Finance and imperialism in Senegal and Ghana

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Is dependency theory outdated or out of fashion? Re-defining dependency theory as a research programme, Ingrid Kvangraven argues that the core insights from dependency theory are more relevant than ever. Countries in the periphery still face structural barriers that make it difficult, if not impossible, for them to develop in the same way that the centre countries did.

Drawing on co-authored work with Kai Koddenbrock and Ndongo Samba Sylla, she presents a specific case in which a dependency research programme is helpful for understanding uneven development, namely the development of the financial and banking systems of Ghana and Senegal. They demonstrate through a longue durée study of the finance-production nexus in those countries that an understanding of the historical developments of finance under colonialism is key for understanding how capitalist finance reproduces dependent relationships and constrains domestic investment. Such a de-centered perspective requires a serious engagement with the concept and logics of imperialism.

• Discussant: Sophie Van Huellen (Lecturer, SOAS, University of London)
• Chair:  Antonio Andreoni

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