Freedom and Finance: Democratization and Institutional Investors in Developing Countries - International Political Economy Series (Hardback)
  • Freedom and Finance: Democratization and Institutional Investors in Developing Countries - International Political Economy Series (Hardback)
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Freedom and Finance: Democratization and Institutional Investors in Developing Countries - International Political Economy Series (Hardback)

(author)
£95.00
Hardback 200 Pages / Published: 26/06/2001
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Within a decade, private capital surpassed aid as the primary capital source for developing countries. This book explores how the increase of private funds, in particular portfolio capital, effects democratization in developing countries. A probe into institutional investors' coordination, asset concentration, political preferences, and activism, provides a framework for understanding the politics of international financial constraints. Highlighting the dilemma presented by international finance's simultaneous emphasis on austerity and stability, the question of whether this public-to-private shift might facilitate an anti-democratic strain is examined.

Publisher: Palgrave Macmillan
ISBN: 9780333914489
Number of pages: 200
Weight: 425 g
Dimensions: 216 x 140 x 18 mm


MEDIA REVIEWS

Mary Ann Haley directly tackles, and conclusively refutes, a crucial tenet of the contemporary international financial liberalizers: their claim that laissez faire international capital flows promote freedom in developing countries. Her careful study demonstrates that capital account liberalization, demanded from abroad, severely constrains the economic policy options of elected leaders in emerging market countries...This book provides a timely and important counter-weight to the prevalent, but mistaken, claim that open capital markets, including for short-term flows, and democracy reinforce one another.' - Leslie Elliott Armijo, Visiting Scholar, Reed College

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