Abstract
Abstract Why do governments pursue flashy international development projects despite more basic material needs? I argue that economically questionable “prestige projects” can be politically useful for legitimacy-seeking governments of small states in the Global South. Prestige projects provide these governments with otherwise unavailable symbolic capital as well as a means for seeking international status. Using new data on China’s global development finance since 1949, I document nearly 400 prestige projects and show they are concentrated in developing countries with small economies that increase their support for China’s diplomatic interests. An illustrative case study of Costa Rica’s national stadium shows how host countries use prestige projects to acquire national symbolic capital and pursue status. Evidence from a survey experiment in Papua New Guinea further demonstrates that prestige projects are uniquely associated with the national government and status-seeking motives. The findings contribute to research on the political economy of foreign aid, international development, status-seeking, and Chinese development finance.
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