This article outlines the main contours of Slovakia's development model from the perspective of regulationist and dependency approaches. It identifies financialisation and export industrialization as the two main pillars of the development model. The extremely extraverted character of the development model entails significant external vulnerabilities. In addition, it is characterized by very uneven internal development patterns. As a strategic alternative, the article proposes the development of a third, more inward looking pillar with a particular focus on the rather peripheral regions.
The European Investment Bank (EIB) has recently become a relevant development player; nevertheless, its theoretical competence to operate in developing countries has not been scrutinised. This paper aims, first, to reconstruct the development argument of EIB, i.e., to map how EIB claims its investments contribute to the economic development of developing countries. Second, we confront the reconstructed Bank's development discourse with development economics theories in an effort to identify its theoretical inspirations. Third, we apply Critical Discourse Analysis to identify EIB's discursive practices. The paper argues that EIB's development discourse is inspired predominantly by the Washington Consensus, that it is minimalist and underdeveloped, and that it uses discursive techniques to promote and perpetuate EIB's hegemonic and ideological positions. We conclude that, from a development economics perspective, EIB is theoretically limited and unqualified.
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