Book contents
- The Perils of International Capital
- The Perils of International Capital
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Acknowledgments
- 1 The Politics of International Capital
- 2 International Capital and Authoritarian Survival
- 3 Foreign Rents and Rule
- 4 Aiding Repression
- 5 Remittances and Autocratic Power
- 6 Foreign Direct Investment in Militarism
- 7 Conclusion
- References
- Index
1 - The Politics of International Capital
Published online by Cambridge University Press: 10 December 2019
- The Perils of International Capital
- The Perils of International Capital
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Acknowledgments
- 1 The Politics of International Capital
- 2 International Capital and Authoritarian Survival
- 3 Foreign Rents and Rule
- 4 Aiding Repression
- 5 Remittances and Autocratic Power
- 6 Foreign Direct Investment in Militarism
- 7 Conclusion
- References
- Index
Summary
Attracting financial capital is essential for economic growth in developing countries, but tragically can often foster nondemocratic politics. Consider, for example, the impact of foreign aid. Since 2008 Ethiopia has been one of the largest recipients of US aid in Africa, averaging around $80 million per year. While the aid is intended to foster economic development, practitioners are growing increasingly wary of its political ramifications. Before the Ethiopian national election in 2010, foreign donors were charged with “subsidizing a regime that is rapidly becoming one of the most repressive and dictatorial on the continent.” Western aid officials “seem reluctant to admit that there are two Prime Minister Meles Zenawis. One is a clubbable, charming African who gives moving speeches at Davos and other elite forums about fighting poverty and terrorism. The other is a dictator whose totalitarianism dates backs to Cold War days.”
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- Information
- The Perils of International Capital , pp. 1 - 23Publisher: Cambridge University PressPrint publication year: 2019