SINGAPORE, September 30 — A presentation by a University of Oxford academic has shed light on how global professional service firms have shaped economic policy in emerging markets over decades, challenging the view that their influence began only with structural adjustment programmes in the 1980s. On 29 September 2026, the NTU-SBF Centre for African Studies published details of a presentation delivered on 1 September 2026 by Dr Corentin Cohen, Associate and Lecturer at the University of Oxford and editor of the Journal of Modern African Studies.
The presentation was part of a four-year research initiative supported by a Marie Sklodowska-Curie grant under the EU Horizon programme. Dr Cohen’s research explored how leading management consultancies and Big Four accounting firms have influenced state transformation in Africa and Latin America.
It demonstrated that global professional service firms acted as pivotal brokers and intermediaries throughout the twentieth century, not only during the 1980s structural adjustment era.
Firms as architects of market and institutional change
The study highlighted how these firms diversified into advisory domains, entered emerging regions, and became involved in high-profile corruption scandals and state capture in countries such as Angola and South Africa. Drawing on historical case studies, the presentation showed that GPSFs designed and implemented key development instruments, including state planning policy design and institutional reshuffling, while embedding their own interests. In a co-authored paper with Professor Ronen Palan, Dr Cohen highlighted how consultancies and accounting firms spearheaded the spread of special economic zones and privatisation programmes.
GPSFs operated as both brokers and institutional architects, producing two lasting structural effects: the creation of new markets and contracts for their services through the integration of their solutions into institutional arrangements.
Academic response and ongoing scrutiny
The presentation sparked discussions among faculty and students at the NTU-SBF Centre for African Studies regarding the role of professional service firms and technical experts in development processes. No specific financial figures, percentages, or quantitative outcomes were disclosed in the source material.
