The interdependence of the State and business is widely recognised across many disciplines and frameworks. This paper examines the State-capital nexus in India during the neoliberal era, focusing on how the State has facilitated accelerated primitive accumulation for large capital by selectively...

Introduction -- PART 1: THE PRESENT SCENE -- 1 Modern money - a matter of trust -- 2 Globalization without global money -- 3. The global menace of US monetary policies -- PART TWO: THE ESSENCE OF GOOD MONEY -- 4. What we mean by “good money” -- 5. Why good money has a solid anchor -- PART...

Crony capitalism and self-fulfilling expectations by international creditors are often suggested as two <I>rival</I> explanations for currency crisis. This paper examines a possible linkage between the two that has so far not been explored: corruption may affect a country’s composition of capital...</i>

A widespread view holds that countries that finance themselves through foreign direct investment (FDI) and portfolio equity, rather than bonds and loans, are less prone to crises. But what determines countries' external capital structures? In a cross section of emerging markets and developing...

Does country "transparency" affect international portfolio investment? We examine this and related questions using a unique micro dataset on international portfolio holdings. We employ various indices of government and corporate transparency, focusing on the availability and quality of...

This paper, part of a series on Crony Capitalism and Contemporary India, examines the conceptual meaning of the term crony capitalism, which has acquired considerable popularity since it was used as an explanation for the East Asian crisis. The paper argues that the conception of crony...