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Reaction Paper Two

Reaction Paper Two - Melissa Walters PS 298 Potential of...

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Melissa Walters PS 298 Potential of Asset-Based Development Models and the Paradigm Shift from Traditional Aid: The concept of asset- based development began to gather support in the 1990s as an approach to integrate development with building human, social, and economic capital. While typically the approach has been applied to industrialized nations and middle income countries, researchers and social scientists have attempted to set programs and create policies based upon assets- based development which would be used to alleviate poverty. This multidimensional methodology to development strives to discover and employ a community’s strengths to promote sustainable development. A promising strength of this approach is the emphasis on finance and encouraging financial inclusion of the poor. Asset based development programs are meant to be an alternative to dominant development models, particularly structural adjustment programs and development aid. Since the 1980s development models have revolved around the role of states and international agencies which focused on addressing issues of market inequity and being agents of socioeconomic change. The next stage in development was the decentralization process, which provided that states retreat back in their efforts, thus leaving the process of development aid to international agencies. The predominant development aid model in the 1980s and 1990s were the Structural Adjustment Programs that stimulated the conditional loaning of aid or assistance from Western donors primarily to developing countries. These Structural Adjustment Programs come attached with them a series of stringent policies
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