Of all the factors blamed for the Asian economic collapse of 1997, one stands out above all as the primary reason for the surprisingly rapid meltdown of East Asian economies: crony capitalism. But this system—in which those close to political policymakers receive favors allowing them to earn returns far above market value—is not limited to Asia. Crony systems are found around the world, and in no region of the world have they been as fundamental a feature of the economy as in Latin America. In this book, Stephen Haber and his expert contributors examine the causes and consequences of cronyism in Latin America. Drawing from case studies in Mexico, Brazil, and other countries around the world, they answer key questions about this pervasive phenomenon, examining why crony economic systems come into being, how they get re-created over time even in the face of dramatic regime changes, why they survive despite being detrimental to growth, and, most important, how crony capitalism can be reformed. Crony Capitalism and Economic Growth in Latin America does not attempt to cover all the wide-ranging issues related to the political economy of crony capitalism. It does, however, offer a powerful point of departure—in terms of both theory and empirical research—from which further knowledge can be developed.
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Editorial Reviews
From the Publisher
Of all the factors blamed for Asian economic collapse of 1997, one stands out above all as the primary reason for the surprisingly rapid meltdown of East Asian economies: crony capitalism. But this system—in which those close to political policymakers receive favors allowing them to earn returns far above market value—is not limited to Asia. Crony systems are found around the world, and in no region of the world have they been as fundamental a feature of the economy as in Latin America.
In this book, Stephen Haber and his expert contributors examine the causes and consequences of cronyism in Latin America. Drawing from case studies in Mexico, Brazil, and other countries around the world, they answer the key questions about this pervasive phenomenon, examining why crony economic systems come into being, how they get re-created over time even in the face of dramatic regime changes, why they survive despite being detrimental to growth, and, most important, how crony capitalism can be reformed.
Crony Capitalism and Economic Growth in Latin America does not attempt to cover all the wide-ranging issues related to the political economy of crony capitalism. It does, however, offer a powerful point of departure—in terms of both theory and empirical research—from which further knowledge can be developed.
Stephen Haber is a professor of history and political science at Stanford University and the Peter and Helen Bing Senior Fellow at the Hoover Institution. He is also the director of Stanford’s Social Science History Institute.
Contributors: Stephen Haber, Anne O. Krueger, Noel Maurer, Armando Razo, Kenneth L. Sokoloff, William Summerhill, and Aaron Tornell
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3.0 out of 5 stars
Just a Collection of Essays,
By sseale (New York) - See all my reviews
This review is from: Crony Capitalism and Economic Growth in Latin America: Theory and Evidence (Paperback)
This book is really just a collection of five essays, all by different authors. It does not have the feel of a cohesive work. Additionally, many of the chapters have little relevance to the stated topic. This book is very academic in nature. Unfortunately it is not a very good read and doesn't enlighten the reader much.
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Inside This Book
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First Sentence:
Until the Asian financial crisis of 1997, economists and policy-makers alike devoted much attention to analyzing the causes of the rapid growth of the East Asian economies. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
vertical political integration, crony systems, statist elite, suffrage institutions, private elite, asset holders, gross domestic capital formation, population voting, subsidy element, crony capitalism, domestic credit Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, New York, Latin America, Mexico City, University of Chicago Press, Chamber of Deputies, American Suffrage, East Asian, Stanford University, Cambridge University Press, Rhode Island, Costa Rica, History of Suffrage, North Carolina, New Hampshire, Rio de Janeiro, South Carolina, Stephen Haber, University of California Press, American Economic Review, New Jersey, World Bank, Fundidora Monterrey, Los Angeles, Ministerio da Justica New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Until the Asian financial crisis of 1997, economists and policy-makers alike devoted much attention to analyzing the causes of the rapid growth of the East Asian economies. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
vertical political integration, crony systems, statist elite, suffrage institutions, private elite, asset holders, gross domestic capital formation, population voting, subsidy element, crony capitalism, domestic credit Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, New York, Latin America, Mexico City, University of Chicago Press, Chamber of Deputies, American Suffrage, East Asian, Stanford University, Cambridge University Press, Rhode Island, Costa Rica, History of Suffrage, North Carolina, New Hampshire, Rio de Janeiro, South Carolina, Stephen Haber, University of California Press, American Economic Review, New Jersey, World Bank, Fundidora Monterrey, Los Angeles, Ministerio da Justica New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 33
books:
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6
books
cite this book:
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- A History of Suffrage in the United States by Kirk Harold Porter on 8 pages
- The Colonial Heritage of Latin America by Stanley J. Stein on page 98, and page 99
- Structure and Change in Economic History by Douglass C. North in Front Matter, and page 26
- Of Rule and Revenue (California Series on Social Choice and Political Economy) by Margaret Levi in Front Matter, and page 26
- Legislative Roll-Call Analysis by L. F. Anderson on page 117, and page 118
See all 33 books this book cites
- The Role of Parliaments in Curbing Corruption (WBI Development Studies) by Rick Stapenhurst on page 24, and page 147
- Political Conflict and Development in East Asia and Latin America (Routledge Studies in Development and Society) by Richard Boyd on page 20, and Back Matter
- Dangerous Strait: The U.S.-Taiwan-China Crisis by Nancy Bernkopf Tucker in Back Matter
- Corporate Governance, Volume 9 (Advances in Financial Economics) by Mark Hirschey on page 156
- Inequality in Latin America: Breaking with History? (Latin America and Caribbean Studies) by Francisco Ferreira in Back Matter
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