Rents, Rent-Seeking and Economic Development

Rents, Rent-Seeking and Economic Development : Theory and Evidence in Asia

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The concepts of rents and rent-seeking are central to any discussion of the processes of economic development. Yet conventional models of rent-seeking are unable to explain how it can drive decades of rapid growth in some countries, and at other times be associated with spectacular economic crises. This book argues that the rent-seeking framework has to be radically extended by incorporating insights developed by political scientists, institutional economists and political economists if it is to explain the anomalous role played by rent-seeking in Asian countries. It includes detailed analysis of Thailand, Malaysia, the Philippines, the Indian sub-continent, Indonesia and South Korea. This new critical and multidisciplinary approach has important policy implications for the debates over institutional reform in developing countries. It brings together leading international scholars in economics and political science, and will be of great interest to readers in the social sciences and Asian studies in general.show more

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Table of contents

Introduction Mushtaq H. Khan and Jomo K. S.; 1. Rents, efficiency and growth Mushtaq H. Khan; 2. Rent-seeking as process Mushtaq H. Khan; 3. Rent-seeking and economic development in Thailand Richard F. Doner and Ansil Ramsay; 4. Thailand's old bureaucratic polity and its new semi-democracy Michael T. Rock; 5. Obstructive corruption: the politics of privilege in the Philippines Paul D. Hutchcroft; 6. Funny money: fiscal policy, rent-seeking and economic performance in Indonesia Andrew Macintyre; 7. The Malaysian development dilemma Jomo K. S. and E. T. Gomez; 8. Financial sector rents in Malaysia Chin Kok Fay with Jomo K. S.show more

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