CEU Electronic Theses and Dissertations, 2024
| Author | Sorder, Md Azmeer Rahman |
|---|---|
| Title | Passive Capital Control Through Political Hostility: The Neoliberal Neocolonial State |
| Summary | Using Penn World Table, International Crisis Behavior Dataset, and World Bank Development Indicator’s data from 1991 to 2019, this thesis attempts to answer if modern capital-rich neoliberal states are using political hostility in the forms of political violence as passive capital control tools. In the process, this thesis attempts this investigation in the light of one severely understudied explanation of low capital mobility from the famous Lucas Paradox (Lucas, 1990). This study adopts this understudied colonial explanation into a neocolonial one with the help of the existing orthodox neoliberal view provided by Lucas and the heterodox neocolonial dependence lens. In the process, this thesis attempts to test two hypotheses, first, if political violence leads to capital accumulation in neoliberal neocolonial states, then there would be an increase in capital resulting from politically violent events, and second, a neoliberal neocolonial state may have rational motive to use political violence as passive capital control measures. The result shows a statistically insignificant but negative impact of crisis events on foreign direct investment and foreign portfolio investment while a positive relationship on external debt stock. These results indicate that there is an increase in capital accumulation in the neoliberal neocolonial states resulting from politically violent events. This thesis also establishes that there is a rational motive for the neoliberal neocolonial state to use political violence as a form of capital control. So, this study showcases the underlying relationship between the neoliberal neocolonial state and the international capital markets where political violence plays a key role. |
| Supervisor | Bremer, Björn |
| Department | Political Science MA |
| Full text | https://www.etd.ceu.edu/2024/sorder_azmeer.pdf |
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