Capital and Collusion

Name: Capital and Collusion
Brand: Hachette Aotearoa New Zealand
SKU: 9780691171180
Price: 72.99 NZD
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The Political Logic of Global Economic Development

By Hilton L. Root

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Summary

Capital and Collusion explores why capital formation frequently stalls in developing countries by analysing the political incentives that either promote economic growth or undermine it. Hilton L. Root differentiates between risk and uncertainty, showing how robust institutions in developed nations lower economic risks and encourage innovation, whereas in developing countries, the scarcity of risk-sharing institutions leads to a disconnect between savings and investment. Through comparisons of regions like China, India, Latin America, and East Asia, Root offers strategies for building institutions that transform uncertainty into manageable risk, aiming to close the global wealth gap.
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Format: Paperback / softback

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Capital and Collusion

$72⁹⁹

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.

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, analyzing the forces driving development in both developed and undeveloped regions. In the forme

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

Collections

Education & Reference Finance & Economics Finance & Investment Hilton L. Root Non-Fiction Science & Nature

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.