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Capital and Collusion
The Political Logic of Global Economic Development
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Capital and Collusion
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Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?
This work will appeal to students and professionals in economics, political science, development studies, and policymakers interested in international development, institutional economics, and governance challenges in emerging economies.
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See moreWhy does capital formation often fail to occur in developing countries? Capital and Collusion explores the political incentives that either foster growth or steal nations' growth prospects. Hilton Root examines the frontier between risk and uncertainty, analyzing the forces driving development in both developed and undeveloped regions. In the forme
Book Hero Magic formatted this description to make it easier to read. While it's new and
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Description
Why does capital formation often fail to occur in developing countries? Capital and Collusion explores the political incentives that either foster growth or steal nations' growth prospects. Hilton Root examines the frontier between risk and uncertainty, analysing the forces driving development in both developed and undeveloped regions.
In the former, he argues, institutions reduce everyday economic risks to levels low enough to make people receptive to opportunities for profit, stimulating developments in technology and science. Not so in developing countries. There, institutions that specialise in sharing risk are scarce. Money hides under mattresses and in teapots, creating a gap between a poor nation's savings and its investment.
As a consequence, the developing world faces a growing disconnect between the value of its resources and the availability of finance. What are the remedies for eliminating this disparity? Root shows us how to close the growing wealth gap among nations by building institutions that convert uncertainty into risk.
Comparing China to India, Latin America to East Asia, and contemporary to historical cases, he offers lessons that can help the World Bank and the International Monetary Fund to tackle the political incentives that are the source of poor governance in developing nations.
Book Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?
Andrew J. Prelog of the Journal of Economic Issues praises the book for providing an insightful look into the complexities of international political economic development. He notes that Root effectively highlights the intricate forces affecting wealth distribution and the need for tailored solutions to nations impeded by collusive cultural practices.
Book Details
INFORMATION
ISBN: 9780691171180
Publisher: Princeton University Press
Format: Paperback / softback
Date Published: 28 June 2016
Country: United States
Imprint: Princeton University Press
Audience: Tertiary education, Professional and scholarly
DIMENSIONS
Width: 152.0mm
Height: 235.0mm
Weight: 510g
Pages: 346
About the Author
Hilton L. Root is a Freeman Fellow and Professor of Economics at Pitzer College and a Senior Fellow at Claremont Graduate University and the Milken Institute. He is the author of six books, including The Key to the East Asian Miracle: Making Shared Growth Credible (with J. Edgardo Campos) and The Fountain of Privilege: Political Foundations of Markets in Old Regime France and England.
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