Dr Daniel Cash

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Daniel Cash

When Does Development Assistance Succeed? Toward a Capability Doctrine for UK Development Policy

When Does Development Assistance Succeed? Toward a Capability Doctrine for UK Development Policy

Executive Summary The issue. UK aid spending is falling to its lowest level in decades, and the Foreign, Commonwealth and Development Office (FCDO) has recast its strategy around four shifts: from donor to investor, from service delivery to system support, from grants to expertise, and from international intervention to local

The Desk Between: Syndicate Judgement and the Making of Sovereign Borrowing Costs

The Desk Between: Syndicate Judgement and the Making of Sovereign Borrowing Costs

Executive Summary Recent commentary on the return of expensive sovereign Eurobond borrowing has focused on the factors associated with high borrowing costs, including macroeconomic fundamentals, global liquidity conditions, investor sentiment and climate vulnerability. This literature has generated important insights into the determinants of sovereign bond yields, yet it typically begins

What Would Make a Multilateral Credit Rating Agency Consequential?

What Would Make a Multilateral Credit Rating Agency Consequential?

Proposals for alternative sovereign credit rating agencies typically concentrate on methodology: how sovereigns should be evaluated differently, against what indicators, and over what horizon. They devote considerably less attention to a second question, of how a new evaluator becomes consequential once it exists. The Policy Profile proposing a Multilateral Credit

The Discipline of Saying No: China’s Credit Rating Crackdown and the Historical Limits of Evaluative Authority

The Discipline of Saying No: China’s Credit Rating Crackdown and the Historical Limits of Evaluative Authority

Development finance has built a vocabulary for mobilising capital. It has not yet built one for the institutions that increasingly govern the conditions under which that capital moves. Official development assistance from advanced economies contracted by twenty-three per cent in a single year, falling as a share of donor

When Evaluation Governs Development Finance

When Evaluation Governs Development Finance

Development finance has built a vocabulary for mobilising capital. It has not yet built one for the institutions that increasingly govern the conditions under which that capital moves. Official development assistance from advanced economies contracted by twenty-three per cent in a single year, falling as a share of donor

The Competition for Africa’s Credit Architecture

The Competition for Africa’s Credit Architecture

S&P Global’s acquisition of Agusto & Co. is easy to read as another corporate transaction. It is more revealing to read it as a sign that the competition over Africa’s credit architecture is entering a new phase. On 28 July 2026, S&P Global announced

Evaluative Capability: The Missing Infrastructure of Development Finance

Evaluative Capability: The Missing Infrastructure of Development Finance