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

Research output: Contribution to journalArticle

Khadija Sharife, Sarah Bracking

Original languageEnglish
Pages (from-to)556-575
Number of pages19
JournalReview of African Political Economy
Issue number150
Early online date30 Jun 2016
Publication statusPublished - Jun 2016

King's Authors


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.

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