By A.R. Griffin
First released in 1971. Routledge is an imprint of Taylor & Francis, an informa corporation.
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2). 32 Significantly, while there is continuity in the change, the SDM is more than a mere discursive shift. Throughout this book, the SDM is seen as a specific agenda encompassing both the PWC narrative and new development mechanisms brought forth on the ground. This closely speaks to Carroll’s (2009) ‘socio-institutional neoliberalism’ (SIN), which he describes as ‘both a bundle of prescriptions and a set of methods and mechanisms to shape the 30 Regimes of Risk political terrain in the underdeveloped world towards the establishment and sustenance of liberal market societies’.
27). The Bank does make the point that: the ‘shrinking state’ has meant new responsibilities for private mining companies. Other private sector actors have also taken prominent positions; that is, the community members and representatives, including NGOs. In the area of environmental and social responsiveness, the industry has moved from a phase of awakening and acceptance to full integration of environmental considerations in project preparation and operations. (2007b) In their study of the Laotian case, the International Council on Mining and Metals (ICMM) observes that the clear capacity constraints faced by local governments have sometimes forced companies to step in: When companies find themselves planning and providing investments that properly belong to the local governments, the long-term sustainability of the sectors may remain inadequately assessed and underfunded in broader government plans.
As such, resource-rich countries have been encouraged to adopt fiscal regimes that have been described as providing very generous incentives to investors. 3). The subsequent reform process brought forth an unprecedented increase in openness and a retreat of Government intervention. 19 This took the forms of a renewed commitment to the privatisation of state-owned enterprises, a cut in subsidies to national mining industries, as well as the drastic lowering of royalty rates and corporate taxes – and even the outright abolishment of several other measures such as import duties and foreign exchange rates.