Capital Shortage : Credit and Indian Economic Development, 1920–1960
by
Maanik Nath
Book Details
Format
Paperback / Softback
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 historyFinance
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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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