Capital Shortage

Credit and Indian Economic Development, 1920–1960

Maanik Nath (Universiteit Utrecht, The Netherlands)

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English

Cambridge University Press
10 August 2023

Asian history; 20th century history: c 1900 to c 2000; Development economics; Economic history

Series: Cambridge Studies in Economic History - Second Series

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.

By: Maanik Nath (Universiteit Utrecht The Netherlands)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
ISBN: 9781009359078
ISBN 10: 100935907X
Series: Cambridge Studies in Economic History - Second Series
Pages: 250
Publication Date: 10 August 2023
Audience: College/higher education , Further / Higher Education
Format: Hardback
Publisher's Status: Active

Maanik Nath is Assistant Professor in Economic and Social History at Utrecht University.