The Political Economy of Nation Building: The World's Unfinished Business

The Political Economy of Nation Building: The World's Unfinished Business

by Mack Ott

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Overview

Donor nations may advise and counsel, but the creation of a liberal nation state falls to its own people. They must create laws, exercise their liberties, provide freedom of belief and expression, and protect individual property rights. No nation becomes or remains free unless its people build, use, and defend these institutions, and protect them with understanding, vigilance, and effort. The Political Economy of Nation Building reviews the effects of political structures on the evolution and stability of liberalism in developing nations and considers the outlook for their success.Discussing the origins and applications of the modern liberal state from an explicitly Anglo- and Euro-centric view, Mack Ott addresses the origins of the rule of law and innovations that led to the rise of a market economy, separation of faith and governance, and the autonomy of finance - key components of the liberal state. He then addresses the emergence of sustained economic growth, a bridge between the liberal infrastructure and its application during the construction of a nation.Ott examines budget policy and laws, and accurate and timely economic and financial statistical reporting that assure donors that the recipient government is operating within the constraints of law. He addresses the beneficial effects of privatization of state-owned industry, examines the costs and benefits of nurturing non-governmental associations, and concludes with a review of transparent fiscal and monetary policies and the importance of non-interference in financial markets by the state.

Product Details

ISBN-13: 9781351477277
Publisher: Taylor & Francis
Publication date: 07/28/2017
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 437
File size: 3 MB

About the Author

Mack Ott, an international economic consultant, most recently at the State Bank of Vietnam, has been a policy advisor to more than thirty countries, from Nigeria to the Marshall Islands to Mongolia and Saudi Arabia. He has been an economics professor at Virginia Polytechnic Institute and Pennsylvania State University and a visiting professor at the University of Michigan, Tblisi State University, Erasmus University, and the Institute for Higher Finance, St. Petersburg.

Table of Contents

List of Tables and Figures ix

Foreword James Lyon xi

Preface xvii

Prologue: Origins of the Liberal Nation-State xix

1 The Rule of Law, the Evolution of the Common Law, and King in Parliament 1

2 The Decline of Feudalism and the Rise of Free Labor, Private Property, and the Market 29

3 Separation of Faith and Governance, the Rise of Literacy, and the Emergence of Civil Society 57

4 The Autonomy of Credit and Finance 85

5 The Complex Quest for Economic Growth 113

6 Steps and Missteps in Nation Building 145

7 The Rule of Law and Matters of Good Governance 173

8 Privatization and the Expansion of the Middle Class 205

9 Nurturing Civil Society and Tolerance 237

10 Money, Credit, and Transactions-Enabling Financial Development 267

11 Economic Growth and Inequality 295

Epilogue: Nation Building and the Security of Freedom 323

Selected Bibliography 355

Illustration Credits 383

Index 385

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