Capital Shortage : Credit and Indian Economic Development, 1920–1960

Name: Capital Shortage
Brand: Cambridge University Press
SKU: 9781009359047
Price: 5550 KES
Availability: InStock
ISBN: 9781009359047

by Maanik Nath

Book Details

Format Paperback / softback

Book Series Cambridge Studies in Economic History - Second Series

ISBN-10 1009359045

ISBN-13 9781009359047

Publisher Cambridge University Press

Imprint Cambridge University Press

Country of Manufacture GB

Country of Publication GB

Publication Date May 8th, 2025

Print length 247 Pages

Weight 372 grams

Dimensions 15.20 x 22.90 x 1.50 cms

Product Classification: Economic history Finance Finance and the finance industry

KSh 5,550.00

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A study of capital shortage and widespread poverty in colonial and postcolonial India. Connecting environmental, institutional and political economic theories to history, Maanik Nath offers new insights on why credit was scarce, and how this scarcity affected development patterns in the Global South.

The great majority of the population in colonial and postcolonial India lived in the countryside and were poor. Many were unable to find gainful work outside agriculture and remained dependent on a livelihood that provided only subsistence, and a precarious one. Seeking the roots of persistent poverty, Maanik Nath finds that the pervasive high cost and shortage of capital affected the peasant''s ability to invest in land. The productivity of land, as a result, remained small and changed little. Bridging economic theory and historical evidence, Capital Shortage shows that climate, law, policy design, and interactions between these factors, perpetuated a stubborn cycle of low investment and widespread deprivation over several decades. These findings can be tested against credit and development in preceding and succeeding periods as well as positioned in comparative global context.

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