Diamond pricing and valuation in South Africa's extractive political economy

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Periodical article

Title:	Diamond pricing and valuation in South Africa's extractive political economy
Authors:	Sharife, Khadija Bracking, Sarah
Year:	2016
Periodical:	Review of African Political Economy (ISSN 0305-6244)
Volume:	43
Issue:	150
Pages:	556-575
Language:	English
Geographic term:	South Africa
Subjects:	diamonds diamond mining marketing trade prices
External link:	https://doi.org/10.1080/03056244.2016.1177504
Abstract:	This article explores the valuation and marketisation of diamonds in South Africa from 2004 to 2012. It argues that there is no positivist foundation for a 'real' or 'fair' price from which derogations can be measured, which constitutes a challenge for establishing transfer pricing in the context of tax justice. Instead, there is a performative valuation process wherein artificial underlying values are assigned which then condition prices and tax liabilities. Thus it is not the essential nature of diamonds per se that conditions a 'resource curse', but corporate control over the marketisation process in the context of enclavity and oligopoly. Bibliogr., notes., ref. sum. in English and French. [Journal abstract]