The Perils of International Capital

July 26, 2021

In his recently published book, The Perils of International Capital, Faisal Ahmed 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. Ahmed reveals that, while foreign capital may improve economic development, it can tragically hinder democratic governance in the process.

Ahmed, Faisal Z. The Perils of International Capital. Cambridge University Press, 2019.