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Can foreign capital empower dictatorship? This groundbreaking book develops a unified theory that links three prominent forms of international capital to the endurance of dictatorships. International capital empowers governments to finance two key instruments of non-democratic politics: repression and patronage. The Perils of International Capital uses theory, case studies, and cross-national statistical evidence to demonstrate causal effects between foreign capital and authoritarian politics. These finding are crucial to scholars and policymakers alike, as they call for a recalibration of the welfare effects associated with greater financial globalization. Ahmed reveals that, while foreign capital may improve economic development, it can tragically hinder democratic governance in the process.
Author Biography
Faisal Z. Ahmed is an assistant professor of politics at Princeton University, New Jersey. His research centers on political economy and international economics. He has published articles in leading journals in economics and political science. Prior to joining the faculty at Princeton, he served as an economist at the Federal Reserve of Chicago and White House Council of Economic Advisors.
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