1,239
Views
15
CrossRef citations to date
0
Altmetric
Articles

Lucrative Disaster: Financialization, Accumulation and Postearthquake Reconstruction in Nepal

, &

References

  • Aalbers, M. B. 2019. Financial geography III: The financialization of the city. Progress in Human Geography. doi:10.1177/0309132519853922.
  • Ashton, P. 2009. An appetite for yield: The anatomy of the subprime mortgage crisis. Environment and Planning A: Economy and Space 41 (6): 1420–41. doi:10.1068/a40328.
  • Baral, B. 2017. OBOR to India. MyRepublica, March 16, 2012. http://www.myrepublica.com/news/16506/.
  • Baral, L. R. 2012. Nepal—Nation-state in the wilderness. Los Angeles: Sage Publications.
  • Bhalla, N. 2015. Help quake-hit Nepal by cancelling foreign debt—Campaigners. Reuters, May 19, 2015. https://www.reuters.com/article/quake-nepal-debt-idUSKBN0O41BP20150519.
  • Brenner, N., Peck, J., and Theodore, N. 2010. Variegated neoliberalization: Geographies, modalities, pathways. Global Networks 10 (2): 182–222. doi:10.1111/glob.2010.10.issue-2.
  • Brettonwoods Project. 2015. Nepal denied IMF disaster debt relief. http://www.brettonwoodsproject.org/2015/09/nepal-denied-imf-disaster-debt-relief/.
  • Burawoy, M. 2000. Uncertain transition: Ethnographies of change in the postsocialist world. Lanham, MD: Rowman and Littlefield Publishers.
  • Casper-Futterman, E., and DeFilippis, J. 2017. On economic democracy in community development. Entrepreneurial neighborhoods: Towards an understanding of the economics of neighborhoods and communities. Cheltenham, UK: Edward Elgar.
  • Chand, B. 2017. Disaster relief as a political tool: Analyzing Indian and Chinese responses after the Nepal earthquakes. Strategic Analysis 41 (6): 535–45. doi:10.1080/09700161.2017.1377893.
  • Chand, B., and Danner, L. K. 2016. Implications of the dragon’s rise for South Asia: Assessing China’s Nepal policy. Strategic Analysis 40 (1): 26–40. doi:10.1080/09700161.2015.1116247.
  • Christophers, B. 2015. The limits to financialization. Dialogues in Human Geography 5 (2): 183–200. doi:10.1177/2043820615588153.
  • Collier, S. J. 2013. Neoliberalism and natural disaster. Journal of Cultural Economy 7 (3): 273–90. doi:10.1080/17530350.2013.858064.
  • Cowen, D., and Smith, N. 2009. After geopolitics? From the geopolitical social to geoeconomics. Antipode 41 (1): 22–48. doi:10.1111/anti.2009.41.issue-1.
  • Dahal, D. R. 1999. Impact of globalization in Nepal: Trade union perspective. In Impact of globalization in Nepal, ed. M. K. Dahal, 103–23. Kathmandu, Nepal: Nepal Foundation for Advanced Studies and Friedrich-Ebert-Stiftung.
  • DeFilippis, J. 2004. Unmaking Goliath: Community control in the face of global capital. New York: Routledge.
  • Donovan, A. 2017. Geopower: Reflections on the critical geography of disasters. Progress in Human Geography 41 (1): 44–67. doi:10.1177/0309132515627020.
  • Escobar, A. 1995. Encountering development: The making and unmaking of the Third World. Princeton, NJ: Princeton University Press.
  • Faas, A. J. 2018. Petit capitalisms in disaster, or the limits of neoliberal imagination: Displacement, recovery, and opportunism in highland Ecuador. Economic Anthropology 5 (1): 32–44. doi:10.1002/sea2.12100.
  • Ferguson, J. 1990. The anti-politics machine: ‘Development’, depoliticization and bureaucratic power in Lesotho. Minneapolis: University of Minnesota Press.
  • Forgie, K. 2014. US imperialism and disaster capitalism in Haiti. In Good intentions: Norms and practices of humanitarian imperialism, ed. M. C. Forte, 57–75. Montreal: Alert Press.
  • French, S., Leyshon, A., and Wainwright, T. 2011. Financializing space, spacing financialization. Progress in Human Geography 35 (6): 798–819. doi:10.1177/0309132510396749.
  • Glassman, J. 2018. Geopolitical economies of development and democratization in East Asia: Themes, concepts, and geographies. Environment and Planning A: Economy and Space 50 (2): 407–15. doi:10.1177/0308518X17737170.
  • Grove, K. 2012. Preempting the next disaster: Catastrophe insurance and the financialization of disaster management. Security Dialogue 43 (2): 139–55. doi:10.1177/0967010612438434.
  • ———. 2014. Agency, affect, and the immunological politics of disaster resilience. Environment and Planning D: Society and Space 32 (2): 240–56. doi:10.1068/d4813.
  • ———. 2017. Disaster biopolitics and the crisis economy. In Biopolitical disaster, ed. J. L. Lawrence and S. M. Wiebe, 46–62. Abingdon, UK: Routledge.
  • Gunewardena, N., and Schuller, M. 2008. Capitalizing on catastrophe: Neoliberal strategies in disaster reconstruction. New York: Almira Press.
  • Gyawali, D. 2015. Nexus governance: Harnessing contending forces at work. Nexus Dialogue Synthesis Papers. Gland, Switzerland: IUCN. https://iwa-network.org/wp-content/uploads/2016/03/1448008531-Nexus-Governance-Harnessing-Contending-Forces-at-Work_Dialogue-Synthesis-Paper-2015.pdf.
  • Hall, S. 2012. Geographies of money and finance II: Financialization and financial subjects. Progress in Human Geography 36 (3): 403–11. doi:10.1177/0309132511403889.
  • Hallegatte, S., Rentschler, J., and Walsh, B. 2018. Building back better: Achieving resilience through stronger, faster, and more inclusive post-disaster reconstruction. Washington, DC: World Bank Group.
  • Hart, G. 2006. Denaturalizing dispossession: Critical ethnography in the age of resurgent imperialism. Antipode 38 (5): 977–1004. doi:10.1111/anti.2006.38.issue-5.
  • Harvey, D. 2003. The new imperialism. Oxford: Oxford University Press.
  • Harvey, P., and Knox, H. 2015. Roads: An anthropology of infrastructure and expertise. Ithaca, NY: Cornell University Press.
  • ———. 2005. From globalization to the new imperialism. In Critical globalization studies, ed. R. Appelbaum and W. Robinson, 91–100. New York: Routledge.
  • He, L. 2019. Identifying local needs for post-disaster recovery in Nepal. World Development 118 (June): 52–62. doi:10.1016/j.worlddev.2019.02.005.
  • Hewitt, K. 1983. The idea of calamity in a technocratic age. In Interpretation of calamity: From the viewpoint of human ecology, ed. K. Hewitt, 3–32. Boston: Allen and Unwinn.
  • Hyndman, J. 2007. The securitization of fear in post-tsunami Sri Lanka. Annals of the Association of American Geographers 97 (2): 361–72. doi:10.1111/j.1467-8306.2007.00542.x.
  • Kathmandu Post. 2017. Nepal investment summit-2017 kicks off in Kathmandu. March 2, 2017. https://kathmandupost.com/national/2017/03/02/nepal-investment-summit-2017-kicks-off-in-kathmandu.
  • Kelly, H. 2015. What we Googled in 2015. CNN, December 16, 2015. https://money.cnn.com/2015/12/16/technology/google-2015-top-searches/index.html.
  • Kernot, S. 2006. Nepal: A development challenge. South Asia: Journal of South Asian Studies 29 (2): 293–307. doi:10.1080/00856400600849167.
  • Khadka, N. 1997. Foreign aid to Nepal: Donor motivations in the post-cold war period. Asian Survey 37 (11): 1044–61. doi:10.2307/2645740.
  • Klein, N. 2007. Shock doctrine: The rise of disaster capitalism. Toronto: Knopf Canada.
  • Langley, P. 2008. Sub-prime mortgage lending: A cultural economy. Economy and Society 37 (4): 469–94. doi:10.1080/03085140802357893.
  • ––––––. 2018. Frontier financialization: Urban infrastructure in the United Kingdom. Economic Anthropology 5 (2): 172–84. doi:10.1002/sea2.2018.5.issue-2.
  • Le Billon, P., and Sommerville, M. 2017. Landing capital and assembling ‘investable land’ in the extractive and agricultural sectors. Geoforum 82 (June): 212–24. doi:10.1016/j.geoforum.2016.08.011.
  • Le Billon, P., Suji, M., Paudel, D., Limbu, B., Baniya, J., Rawal, N., Rankin, K., and Shneiderman, S. 2019. Disaster financialization: Earthquakes, cashflows, and shifting household economies in Nepal. Working Paper 1/2020. Vancouver: University of British Columbia. https://www.researchgate.net/publication/338753424_Disaster_Financialization_Earthquakes_Cashflows_and_Shifting_Household_Economies_in_Nepal.
  • Le Billon, P., and Waizenegger, A. 2007. Peace in the wake of disaster? Secessionist conflicts and the 2004 Indian Ocean tsunami. Transactions of the Institute of British Geographers 32 (3): 411–27. doi:10.1111/tran.2007.32.issue-3.
  • Lee, S., Wainwright, J., and Glassman, J. 2017. Geopolitical economy and the production of territory: The case of US–China geopolitical-economic competition in Asia. Environment and Planning A: Economy and Space 50 (2): 416–36. doi:10.1177/0308518X17701727.
  • Letelier, F., and Irazábal, C. 2018. Contesting TINA: Community planning alternatives for disaster reconstruction in Chile. Journal of Planning Education and Research 38 (1): 67–85. doi:10.1177/0739456X16683514.
  • Li, T. M. 2014. Land’s end: Capitalist relations on an indigenous frontier. Durham, NC: Duke University Press.
  • Loewenstein, A. 2015. Disaster capitalism: Making a killing out of catastrophe. London: Verso.
  • Loperena, C. A. 2017. Honduras is open for business: Extractivist tourism as sustainable development in the wake of disaster? Journal of Sustainable Tourism 25 (5): 618–33. doi:10.1080/09669582.2016.1231808.
  • Marks, D., Connell, J., and Ferrara, F. 2019. Contested notions of disaster justice during the 2011 Bangkok floods: Unequal risk, unrest and claims to the city. Asia Pacific Viewpoint. doi:10.1111/apv.12250.
  • Marx, K. [1867] 1967. Capital: A critique of political economy. Vol. I. New York: Penguin.
  • Matthew, R., and Upreti, B. R. 2018. Disaster capitalism in Nepal. Peace Review 30 (2): 176–83. doi:10.1080/10402659.2018.1458946.
  • Mawdsley, E. 2018. Development geography II: Financialization. Progress in Human Geography 42 (2): 264–74. doi:10.1177/0309132516678747.
  • Middleton, N., and O’Keefe, P. 1998. Disaster and development: The politics of humanitarian aid. London: Pluto Press.
  • Murton, G. 2017. Border corridors: Mobility, containment, and infrastructures of development between Nepal and China. PhD diss., University of Colorado at Boulder.
  • Murton, G., Lord, A., and Beazley, R. 2016. “A handshake across the Himalayas:” Chinese investment, hydropower development, and state formation in Nepal. Eurasian Geography and Economics 57 (3): 403–32. doi:10.1080/15387216.2016.1236349.
  • National Planning Commission. 2015. Nepal earthquake 2015: Post disaster needs assessment. Kathmandu, Nepal: Government of Nepal.
  • National Reconstruction Authority. 2016. Earthquake reconstruction building codes. Kathmandu, Nepal: Government of Nepal.
  • O’Neill, P. 2019. The financialisation of urban infrastructure: A framework of analysis. Urban Studies 56 (7): 1304–25. doi:10.1177/0042098017751983.
  • Paudel, D. 2016. The double life of development: USAID, empowerment, and the Maoist uprising in Nepal. Development and Change 47 (5): 1025–50. doi:10.1111/dech.12262.
  • Paudel, D., and Le Billon, P. 2018. Geo-logics of power: Disaster capitalism, Himalayan materialities, and the geopolitical economy of reconstruction in post-earthquake Nepal. Geopolitics 1–29. doi:10.1080/14650045.2018.1533810.
  • ––––––. 2019. Decolonizing development in Nepal. A keynote speech at the Annual Conference of the American Association of Geographers, Washington, DC, April 4.
  • Peck, J. 2004. Geography and public policy: Constructions of neoliberalism. Progress in Human Geography 28 (3): 392–405. doi:10.1191/0309132504ph492pr.
  • ––––––. 2013. Explaining (with) neoliberalism. Territory, Politics, Governance 1 (2): 132–57. doi:10.1080/21622671.2013.785365.
  • Pelling, M. 2003. Natural disaster and development in a globalizing world. London: Routledge.
  • Pelling, M., and Dill, K. 2009. Disaster politics: Tipping points for change in the adaptation of sociopolitical regimes. Progress in Human Geography 34 (1): 21–37. doi:10.1177/0309132509105004.
  • Phelps, N. A., Bunnell, T., and Miller, M. A. 2011. Post-disaster economic development in Aceh: Neoliberalization and other economic-geographical imaginaries. Geoforum 42 (4): 418–26. doi:10.1016/j.geoforum.2011.02.006.
  • Pike, A., and Pollard, J. 2010. Economic geographies of financialization. Economic Geography 86 (1): 29–51. doi:10.1111/j.1944-8287.2009.01057.x.
  • Poole, D., and Renique, G. 2017. Cashing in on the quakes: In the wake of recent earthquakes that have ravaged Mexico, the government capitalizes as the people organize and rebuild. NACLA Report on the Americas 49 (4): 387–90. doi:10.1080/10714839.2017.1409004.
  • Radice, H. 2008. The developmental state under global neoliberalism. Third World Quarterly 29 (6): 1153–74. doi:10.1080/01436590802201121.
  • Rankin, K. 2001. Governing development: Neoliberalism, microcredit, and rational economic woman. Economy and Society 30 (1): 18–37. doi:10.1080/03085140020019070.
  • ––––––. 2004. The cultural politics of markets: Economic liberalization and social change in Nepal. Toronto: University of Toronto Press.
  • ––––––. 2013. A critical geography of poverty finance. Third World Quarterly 34 (4): 547–68. doi:10.1080/01436597.2013.786282.
  • Regmi, K. 2016. The political economy of 2015 Nepal earthquake: Some critical reflections. Asian Geographer 33 (2): 77–96. doi:10.1080/10225706.2016.1235053.
  • Rist, G. 2003. The history of development: From western origins to global faith. London: Zed Books.
  • Roy, A. 2010. Poverty capital: Microfinance and the making of development. Oxford: Routledge.
  • Sajha. 2011. What is Bilateral Investment Protection and Promotion Agreement (BIPPA) between India and Nepal. http://sajha.com/sajha/html/index.cfm?threadid=93934.
  • Saldías, C. C., and Figueroa, A. R. 2014. La Ruta de las Caletas del Maule: Sobre la articulación entre sector público, privado y sociedad civil en los procesos de reconstrucción posterremoto [The Route of the Caletas del Maule: On the articulation between public, private and civil society sectors in the post-remote reconstruction processes]. Revista De Geografía Norte Grande 59:165–84.
  • Sangroula, Y. 2019. South Asia China geo-economics. Kathmandu, Nepal: Lex and Juris Publications.
  • Sapkota, C. 2013. Remittances in Nepal: Boon or bane? Journal of Development Studies 49 (10): 1316–31. doi:10.1080/00220388.2013.812196.
  • Sawyer, M. 2013. What is financialisation? International Journal of Political Economy 42 (4): 5–18. doi:10.2753/IJP0891-1916420401.
  • Shakya, Y. B., and Rankin, K. 2008. The politics of subversion in development practice: An exploration of microfinance in Nepal and Vietnam. Journal of Development Studies 44 (8): 1214–35. doi:10.1080/00220380802242461.
  • Shrestha, K., Bhattarai, B., Ojha, H., and Bajracharya, A. 2019. Disaster justice in Nepal’s earthquake recovery. International Journal of Disaster Risk Reduction 33 (February): 207–16. doi:10.1016/j.ijdrr.2018.10.006.
  • Shrestha, N. R. 1997. In the name of development: A reflection on Nepal. Lanham, MD: University Press of America.
  • Shrestha, P. M. 2015. $4.4 bn aid pledged during donor conference. Kathmandu Post, June 25, 2015. https://kathmandupost.com/miscellaneous/2015/06/25/44-bn-aid-pledged-during-donor-conference.html.
  • Shrestha, P. M., and Humagain, M. 2019. Investment summit ends on a high note with signing of 15 deals. Hathmandu Posti, March 31, 2019. https://kathmandupost.com/national/2019/03/31/investment-summit-ends-on-a-high-note-with-signing-of-15-deals.
  • Simpson, E., and Corbridge, S. 2006. The geography of things that may become memories: The 2001 earthquake in Kachchh-Gujarat and the politics of rehabilitation in the prememorial era. Annals of the Association of American Geographers 96 (3): 566–85. doi:10.1111/j.1467-8306.2006.00706.x.
  • Sparke, M. 2017. Globalizing capitalism and the dialectics of geopolitics and geoeconomics. Environment and Planning A: Economy and Space 50 (2): 484–89. doi:10.1177/0308518X17735926.
  • Trujillo-Pagan, N. 2012. Neoliberal disasters and racialisation: The case of post-Katrina Latino labour. Race & Class 53 (4): 54–66. doi:10.1177/0306396811433986.
  • Upreti, B. C. 2006. The Maoist insurgency in Nepal: Nature, growth and impact. South Asian Survey 13 (1): 35–50. doi:10.1177/097152310501300103.
  • Verchick, R. R. M. 2012. Disaster justice: The geography of human capability. Duke Environmental Law & Policy Forum 23 (1): 23–71.
  • Wagle, U. R. 2010. Economic inequality in Nepal: Patterns and changes during the late 1990s and early 2000s. Journal of International Development 22 (5): 573–90. doi:10.1002/jid.1593.
  • ––––––. 2012. Socioeconomic implications of the increasing foreign remittance to Nepal: Evidence from the Nepal living standard survey. International Migration 50 (4): 186–207. doi:10.1111/imig.2012.50.issue-4.
  • Wilford, J. 2008. Out of rubble: Natural disaster and the materiality of the house. Environment and Planning D: Society and Space 26 (4): 647–62. doi:10.1068/d4207.
  • Wolford, W. 2005. Agrarian moral economies and neoliberalism in Brazil: Competing worldviews and the state in the struggle for land. Environment and Planning A: Economy and Space 37 (2): 241–62. doi:10.1068/a3745.
  • Wyly, E., Moos, M., Hammel, D., and Kabahizi, E. 2009. Cartographies of race and class: Mapping the class‐monopoly rents of American subprime mortgage capital. International Journal of Urban and Regional Research 33 (2): 332–54. doi:10.1111/ijur.2009.33.issue-2.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.