Derivatives and Development: A Political Economy of Global Finance, Farming, and Poverty by Sasha Breger Bush

Derivatives and Development: A Political Economy of Global Finance, Farming, and Poverty

bySasha Breger Bush

Hardcover | June 27, 2012

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Derivatives and Development engages recent efforts to deploy derivatives as tools for economic development. Even as these complex financial instruments are indicted for their role in the global food and financial crises, they are elsewhere hailed as innovative solutions to poverty and insecurity in rural Africa, Latin America, and Asia. The critical analysis undertaken here reveals that derivatives leave much to be desired as development tools. Breger Bush argues that derivatives markets work in the development context as engines of inequality and instability, aggravating poverty among those they are purported to help and highlighting some of the dangers of neoliberal globalization for the poor.

About The Author

Sasha Breger Bush is a lecturer at the Josef Korbel School of International Studies at the University of Denver.

Details & Specs

Title:Derivatives and Development: A Political Economy of Global Finance, Farming, and PovertyFormat:HardcoverDimensions:256 pages, 8.5 × 5.51 × 0.04 inPublished:June 27, 2012Publisher:Palgrave Macmillan USLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230338925

ISBN - 13:9780230338920

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Table of Contents

Chapter 1Introduction Chapter 2Derivatives and Development: Contemporary Applications Chapter 3Coffee, Derivatives and Income Security: Theory and Practice\Chapter 4Coffee, Derivatives and Poverty: A Global Commodity Chain ApproachChapter 5Derivatives and the Politics of AlternativesChapter 6Conclusions

Editorial Reviews

"This book cuts to the core. Too often those concerned with financial markets fail to make the link between such those markets to real people and communities. Many who examine development and the poor fail to make the link to financial markets. This book bridges the divide with great insights that will united and amplify the individual concerns. Anyone who reads this book will think twice about the extent to which financial "innovations" such as derivatives are the latest magic bullet for the poor." - Kevin P. Gallagher, professor, BU Global Development, Boston University"Logically argued, richly-detailed and thoroughly researched, Derivatives and Development, Sasha Breger illuminates the complex interface between the world food system and modern financial engineering. Derivatives can help farmers to hedge against the risks of volatile commodity markets, but they also can fuel speculation and increase volatility. In the absence of corrective policies, the dangers for small farmers may outweigh the benefits." - James Boyce, professor of Economics at the University of Massachusetts-Amherst"Derivatives and Development illustrates not only the limits of these instruments for supporting poor farmers, associated with market imperfections, short-term biases and costs, but also the fact that they may strengthen commodity chains that enhance inequalities. In this context, it suggests concrete alternatives to transform the commodity chains. It should be critical reading for students of development, finance and political economy. - José Antonio Ocampo, professor, Columbia University, former United Nations Under-Secretary-General for Economic and Social Affairs and minister of Finance of Colombia