TY  - BOOK
AU  - Nath, Maanik.
AU  - Maanik Nath
TI  - Capital Shortage: : Credit and Indian Economic Development, 1920-1960
SN  - 9781009359078
U1  - 332.709 NAT 
PY  - 2023///
CY  - , New Delhi
PB  - : Cambridge University Press
KW  - Agriculture and remained dependent
KW  - Capital affected
KW  - Colonial and postcolonial India
KW  - Indian Economic Development
N2  - The great majority of the population in colonial and postcolonial India lived in the countryside and were poor. Many were unable to find gainful work outside agriculture and remained dependent on a livelihood that provided only subsistence, and a precarious one. Seeking the roots of persistent poverty, Maanik Nath finds that the pervasive high cost and shortage of capital affected the peasant's ability to invest in land. The productivity of land, as a result, remained small and changed little. Bridging economic theory and historical evidence, Capital Shortage shows that climate, law, policy design, and interactions between these factors, perpetuated a stubborn cycle of low investment and widespread deprivation over several decades. These findings can be tested against credit and development in preceding and succeeding periods as well as positioned in comparative global context
ER  -