As part of the Private Sector Development Research Network (PSDRN), the Wheeler Institute for Business and Development hosted an insightful webinar on the role of concessionary companies and private enterprises in colonising sub-Saharan Africa. The webinar took place on Friday, 31st January 2025, from 2-3pm GMT and was led by Etienne Le Rossignol, Postdoctoral Researcher at the University of Namur and Elias Papaioannou, Professor of Economics at London Business School.
This seminar presented pioneering research on the impact of concession companies in Sub-Saharan Africa during all colonial periods. The study charted the history of these companies, providing a detailed overview of their operations, including plantation agriculture, charter companies, forestry, mining, and trade. It examined the practices of these companies, such as forced labour, oppression, and genocide, as well as their investments in infrastructure, including roads, railways, schools, and healthcare. This research highlighted the pervasive nature of the concessionary model across different imperial powers and colonial eras, filling a significant gap in recent economic research.
The presentation explored the evolving characteristics of these concessions over time and across colonial powers, investigating their geographical distribution and long-term evolution. It also assessed the legacy of the concessionary model on contemporary development, using spatial Regression Discontinuity Design (RDD) analyses to uncover the heterogeneous impacts of different company types and practices.
Findings discussed the relationship between extractive practices and poorer socio-economic outcomes, as well as the positive correlation between historical investments and current development. Regional aggregates accounting for local spillovers and noise were also be presented, demonstrating correlations between company activities and various development indicators.
This research brought attention to the often-neglected role of private concessionary capital in colonisation, urging further investigation into the interplay between colonial states and companies, the implications of outsourced colonisation, and the broader agency of imperialism.
For those interested in the slides shared in the session, please note that they will be uploaded to this blog once the research team completes the consolidation of the insights and results shared in the session.
About the speakers
Etienne Le Rossignol is a Postdoctoral Researcher at the University of Namur in Belgium, supported by a Marie Sklodowska-Curie Actions – H2020 scholarship. He previously held a Research Fellow position at the London Business School from November 2020 to July 2022. He completed his PhD in Economics at Paris 1 Panthéon Sorbonne in 2021. His research focuses on Economic History, Political Economy, Development Economics, and Culture. Le Rossignol’s work explores the origins and consequences of various institutions and norms, including property rights, trust, and beliefs. He has a particular interest in examining the cultural and economic legacies of colonialism in sub-Saharan Africa.
As an empirical researcher, his ongoing projects in Development Economics and Economic History utilise both contemporary and archival data from sub-Saharan Africa. His work on Culture incorporates ethnographic and global survey data. Through his research, Le Rossignol contributes to our understanding of the complex interplay between historical events, institutional development, and contemporary economic outcomes.
Elias Papaioannou is a Professor of Economics at London Business School, Co-Academic Director of the Wheeler Institute for Business and Development and fellow of the British Academy. Professor Papaioannou is the academic director of the Wheeler Institute for Business and Development and a professor of economics at London Business School. His research focuses on international finance, political economy, applied econometrics, growth, and development. He held the Varian Visiting Professor of Economics position at MIT in 2019/2020. His career includes roles at the European Central Bank, Dartmouth College, and Harvard University. He completed his PhD at London Business School in 2005, following a Master’s in Public Policy and Administration from Columbia University and an LL.B. from the University of Athens.
His work has earned him several prestigious awards, including a consolidator ERC grant in 2018, the 2013 European Investment Bank Young Economist Award, and the 2005 European Economic Association’s Young Economist Award. As a research affiliate of the Centre for Economic Policy Research, Professor Papaioannou’s research has been published in leading peer-reviewed journals and book volumes. He regularly consults with international organisations and institutional investors on macroeconomic developments in the EU and Greece, bridging academic research with practical economic insights.
About PSDRN
The Private Sector Development Research Network is a community of institutions with an active research agenda on Private Sector Development. The PSD Research Network is a collaboration between the Wheeler Institute, British International Investment (BII), Centre for Global Development (CGD), European Bank for Reconstruction and Development (EBRD), IDB Invest, International Finance Corporation, International Growth Centre (IGC), Think Tank ODI, Islamic Corporation for Development of the Private Sector (ICD) and the African Development Bank (AfDB), which aims to promote the exchange of ideas and facilitate collaboration.