Capital and Collusion

The Political Logic of Global Economic Development

Hilton L. Root

336 pages, parution le 16/01/2006

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Résumé

Why does capital formation often fail to occur in developing countries? In Capital and Collusion, Hilton Root explores the political incentives that either foster growth or steal nations' growth prospects.

The book examines the frontier between risk and uncertainty, analyzing the forces driving development in both developed and undeveloped regions. In the former, Root 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 specialize 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.

L'auteur - Hilton L. Root

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 Asiah Miracle: Making Shared Growth Credible, co-authored with J. Edgardo Campos, and The Fountain of Privilege: Political Foundations of Markets in Old Regime France and England.

Sommaire

Tables and Figures
Analytical Perspectives
Regional and National Complexity
Conclusion
Acknowledgments
Appendix 1: Data Sources
Appendix 2: Variables
Notes
References
Index

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Princeton University Press
Auteur(s)	Hilton L. Root
Parution	16/01/2006
Nb. de pages	336
Format	16 x 24
Couverture	Relié
Poids	637g
Intérieur	Noir et Blanc
EAN13	9780691124070
ISBN13	978-0-691-12407-0