Description: Globalizing Patient Capital by Stephen B. Kaplan This book is for scholars and practitioners examining the costs and benefits of Chinas economic expansion into the Western Hemisphere. It assesses how Chinas state-led capitalism, a form of patient capital characterized by long-term risk tolerance and a lack of policy conditionality, affects national-level governance across the Americas. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description Chinas overseas financing is a distinct form of patient capital that marshals the countrys vast domestic resources to create commercial opportunities internationally. Its long-term risk tolerance and lack of policy conditionality has allowed developing economies to sidestep the fiscal austerity tendencies of Western markets and multilaterals. Employing statistical tests and extensive field research across China and Latin America, Stephen Kaplan finds that Chinas patient capital endows national governments with more room to maneuver in formulating domestic policies. The author goes on to evaluate the potential costs of Chinese financing, raising the question of how Chinese lenders will react to developing nations ongoing struggles with debt and dependency. By disaggregating the structure of international finance, Globalizing Patient Capital has significant implications for the rise of China in Latin America, offering new insights about globalization and showing the costs and benefits of state versus market approaches to development. Author Biography Stephen B. Kaplan is Associate Professor of Political Science and International Affairs at George Washington University. He is the author of Globalization and Austerity Politics in Latin America (Cambridge, 2013). Table of Contents 1. Introduction: Chinas Latin American Bankers; 2. The Emergence of Chinese Patient Capital; 3. Globalizing Patient Capital: A Theoretical Framework; 4. The Political Economy of Chinese Finance; 5. Chinese Financing and Latin American Fiscal Space; 6. Public Procurements Check on Fiscal Expansion; 7. International Loans with Commercial Strings Attached; 8. Conclusion: A Dynamic Creditor-Debtor Relationship. Review The best treatment of the political economy of China-Latin America finance to date. Kaplan shows how Chinas patient capital in Latin America may have the potential to support the regions long-term development goals - in contrast with the volatile and conditional finance from the West. Kaplan shows that Latin American countries and China alike are climbing a learning curve to maximize the benefits and minimize the risks associated with their burgeoning economic relationship, while the United States sits puzzled and increasingly alarmed. Kevin Gallagher, Boston UniversityA valuable contribution to the burgeoning literature on China and Latin America. Kaplan argues that Chinese finance has a long-term approach and greater risk tolerance than Western capital. This enables Latin American governments to pursue their preferred development policies while avoiding the damaging cycles that have typified in the region. Both scholars and policymakers will benefit from reading the book. Barbara Stallings, Brown UniversityA must read for understanding the shifting role of Chinas international investment. Kaplan provides the most convincing and nuanced analysis for understanding the evolution of China-Latin American interconnections and their potential trajectory as part of a larger Chinese strategy of international influence. This impressive book is crucial for scholars of both Latin American politics and international political economy. It will reshape our understanding of Latin American political economy and Chinese soft international power. Maria Victoria Murillo, Columbia UniversityKaplan employs new loan data and hundreds of interviews to understand the costs and benefits of Chinese credit. His analysis suggests that Chinese policy banks longer time horizons and looser regulatory structures free borrowing governments from fiscal constraints and policy conditions. In exchange, borrowing governments offer a range of commercial concessions to their Chinese creditors, while also risking unsustainable debt burdens. This book offers important insights for anyone interested in the contemporary sovereign financing landscape. Layna Mosley, Princeton UniversityGlobalizing Patient Capital is a rich resource for scholars and policy makers who are interested in how China is reshaping the financial landscape in Latin America and the developing world in general and how Chinese loan recipients are also learning how to negotiate with China as a creditor … this book offers a deeper understanding of Chinas growing financial influence in the world. Victoria Chonn Ching, Perspectives on Politics Promotional Examines Chinas overseas financial investments in the developing world, and its impact on national economic policymaking in the Americas. Review Quote The best treatment of the political economy of China-Latin America finance to date. Kaplan shows how Chinas patient capital in Latin America may have the potential to support the regions long-term development goals - in contrast with the volatile and conditional finance from the West. Kaplan shows that Latin American countries and China alike are climbing a learning curve to maximize the benefits and minimize the risks associated with their burgeoning economic relationship, while the United States sits puzzled and increasingly alarmed. Kevin Gallagher, Boston University Promotional "Headline" Examines Chinas overseas financial investments in the developing world, and its impact on national economic policymaking in the Americas. Description for Bookstore This book is for scholars and practitioners examining the costs and benefits of Chinas economic expansion into the Western Hemisphere. It assesses how Chinas state-led capitalism, a form of patient capital characterized by long-term risk tolerance and a lack of policy conditionality, affects national-level governance across the Americas. Description for Library This book is for scholars and practitioners examining the costs and benefits of Chinas economic expansion into the Western Hemisphere. It assesses how Chinas state-led capitalism, a form of patient capital characterized by long-term risk tolerance and a lack of policy conditionality, affects national-level governance across the Americas. Details ISBN110718231X Author Stephen B. Kaplan Short Title Globalizing Patient Capital Publisher Cambridge University Press Language English Year 2021 ISBN-10 110718231X ISBN-13 9781107182318 Format Hardcover Subtitle The Political Economy of Chinese Finance in the Americas Pages 300 Imprint Cambridge University Press Place of Publication Cambridge Country of Publication United Kingdom Publication Date 2021-07-15 UK Release Date 2021-07-15 AU Release Date 2021-07-15 NZ Release Date 2021-07-15 Alternative 9781316632048 DEWEY 332.6735108 Illustrations Worked examples or Exercises Audience Tertiary & Higher Education We've got this At The Nile, if you're looking for it, we've got it. 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ISBN-13: 9781107182318
Book Title: Globalizing Patient Capital
Publisher: Cambridge University Press
Publication Year: 2021
Subject: Economics
Number of Pages: 300 Pages
Language: English
Publication Name: Globalizing Patient Capital: the Political Economy of Chinese Finance in the Americas
Type: Textbook
Author: Stephen B. Kaplan
Format: Hardcover
