Mushtaq Khan (economist)
Encyclopedia
Mushtaq Husain Khan is a heterodox economist
and Professor of Economics
at the School of Oriental and African Studies(SOAS)
, University of London
. His work focusses on the economics of poor countries
; it includes notable contributions to the field of institutional economics
and South Asian development.
at Corpus Christi College, Oxford
, Khan graduated with a first-class BA in Philosophy, Politics and Economics in 1981. In 1982, he received his MPhil from King's College, Cambridge
, where he would also begin his PhD, to be completed in 1989.
From 1990 to 1996, Khan was both Fellow and Lecturer in Economics at Sidney Sussex College, Cambridge
and Assistant Director of Development Studies at Cambridge, a prestigious post held by, among others, John Toye (economist) and Ha-Joon Chang
. In 1996, Khan took up a post at SOAS, where he was made a Professor in 2005.
Apart from his academic career, Khan has held appointments as consultant for a vast number of international institutions focussing on poor countries, among others the World Bank
, DfID
, UNDP and the Asian Development Bank
; moreover, he has held positions as Visiting Professor at Chulalongkorn
and Dhaka Universities. Several of his articles have won prizes such as the Hans Singer Prize or the Frank Cass Prize. In addition, he is a regular commentator to the BBC
's Bengali service broadcasts.
; in particular, he subjects what he terms the good governance
consensus' of the Bretton Woods institutions
and many non-governmental organisations to a thorough critique. In several publications, he challenges the belief that the elimination of rents
, corruption
and rent-seeking behaviour
as well as democratisation and decentralisation
represent the precondition for successful development. According to him, there is no historical evidence for this sequencing; indeed, he claims that all evidence suggests opposite causal direction
, so that 'good governance' is the outcome, rather than the cause, for growth.
Instead, he emphasises the importance of transformation potential, that is the capacity of states to transform rent-seeking behaviour into uses which are conducive to growth. On this account, notable examples include Taiwan and South Korea where states intervened heavily and used patron-client relationships
in order to further growth.
Heterodox economics
"Heterodox economics" refers to approaches or to schools of economic thought that are considered outside of "mainstream economics". Mainstream economists sometimes assert that it has little or no influence on the vast majority of academic economists in the English speaking world. "Mainstream...
and Professor of Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
at the School of Oriental and African Studies(SOAS)
School of Oriental and African Studies
The School of Oriental and African Studies is a public research university located in London, United Kingdom and a constituent college of the University of London...
, University of London
University of London
-20th century:Shortly after 6 Burlington Gardens was vacated, the University went through a period of rapid expansion. Bedford College, Royal Holloway and the London School of Economics all joined in 1900, Regent's Park College, which had affiliated in 1841 became an official divinity school of the...
. His work focusses on the economics of poor countries
Development economics
Development Economics is a branch of economics which deals with economic aspects of the development process in low-income countries. Its focus is not only on methods of promoting economic growth and structural change but also on improving the potential for the mass of the population, for example,...
; it includes notable contributions to the field of institutional economics
Institutional economics
Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behaviour. Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the...
and South Asian development.
Education and career
Educated as an exhibitionerExhibition (scholarship)
-United Kingdom and Ireland:At the universities of Dublin, Oxford and Cambridge, and at Westminster School, Eton College and Winchester College, and various other UK educational establishments, an exhibition is a financial award or grant to an individual student, normally on grounds of merit. The...
at Corpus Christi College, Oxford
Corpus Christi College, Oxford
Corpus Christi College is one of the constituent colleges of the University of Oxford in the United Kingdom...
, Khan graduated with a first-class BA in Philosophy, Politics and Economics in 1981. In 1982, he received his MPhil from King's College, Cambridge
King's College, Cambridge
King's College is a constituent college of the University of Cambridge, England. The college's full name is "The King's College of our Lady and Saint Nicholas in Cambridge", but it is usually referred to simply as "King's" within the University....
, where he would also begin his PhD, to be completed in 1989.
From 1990 to 1996, Khan was both Fellow and Lecturer in Economics at Sidney Sussex College, Cambridge
Sidney Sussex College, Cambridge
Sidney Sussex College is a constituent college of the University of Cambridge in England.The college was founded in 1596 and named after its foundress, Frances Sidney, Countess of Sussex. It was from its inception an avowedly Puritan foundation: some good and godlie moniment for the mainteynance...
and Assistant Director of Development Studies at Cambridge, a prestigious post held by, among others, John Toye (economist) and Ha-Joon Chang
Ha-Joon Chang
Ha-Joon Chang is one of the leading heterodox economists and institutional economists specialising in development economics...
. In 1996, Khan took up a post at SOAS, where he was made a Professor in 2005.
Apart from his academic career, Khan has held appointments as consultant for a vast number of international institutions focussing on poor countries, among others the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
, DfID
Department for International Development
The Department For International Development is a United Kingdom government department with a Cabinet Minister in charge. It was separated from the Foreign and Commonwealth Office in 1997. The goal of the department is "to promote sustainable development and eliminate world poverty". The current...
, UNDP and the Asian Development Bank
Asian Development Bank
The Asian Development Bank is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia...
; moreover, he has held positions as Visiting Professor at Chulalongkorn
Chulalongkorn University
Chulalongkorn University is the oldest university in Thailand and is the country's highest ranked university. It now has nineteen faculties and institutes. Regarded as the best and most selective university in Thailand, it consistently attracts top students from around the country...
and Dhaka Universities. Several of his articles have won prizes such as the Hans Singer Prize or the Frank Cass Prize. In addition, he is a regular commentator to the BBC
BBC
The British Broadcasting Corporation is a British public service broadcaster. Its headquarters is at Broadcasting House in the City of Westminster, London. It is the largest broadcaster in the world, with about 23,000 staff...
's Bengali service broadcasts.
'Good governance' and 'transformation potential'
Mushtaq Khan's research has produced notable contributions to heterodox institutional political economyInstitutionalist political economy
Institutional political economy refers to a body of political economic thought stemming from the works of Thorstein Veblen, John Commons, Wesley Mitchell, John Dewey.-References:******...
; in particular, he subjects what he terms the good governance
Good governance
Good governance is an indeterminate term used in development literature to describe how public institutions conduct public affairs and manage public resources in order to guarantee the realization of human rights. Governance describes "the process of decision-making and the process by which...
consensus' of the Bretton Woods institutions
Bretton Woods system
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid 20th century...
and many non-governmental organisations to a thorough critique. In several publications, he challenges the belief that the elimination of rents
Economic rent
Economic rent is typically defined by economists as payment for goods and services beyond the amount needed to bring the required factors of production into a production process and sustain supply. A recipient of economic rent is a rentier....
, corruption
Political corruption
Political corruption is the use of legislated powers by government officials for illegitimate private gain. Misuse of government power for other purposes, such as repression of political opponents and general police brutality, is not considered political corruption. Neither are illegal acts by...
and rent-seeking behaviour
Rent seeking
In economics, rent-seeking is an attempt to derive economic rent by manipulating the social or political environment in which economic activities occur, rather than by adding value...
as well as democratisation and decentralisation
Décentralisation
Décentralisation is a french word for both a policy concept in French politics from 1968-1990, and a term employed to describe the results of observations of the evolution of spatial economic and institutional organization of France....
represent the precondition for successful development. According to him, there is no historical evidence for this sequencing; indeed, he claims that all evidence suggests opposite causal direction
Causality
Causality is the relationship between an event and a second event , where the second event is understood as a consequence of the first....
, so that 'good governance' is the outcome, rather than the cause, for growth.
Instead, he emphasises the importance of transformation potential, that is the capacity of states to transform rent-seeking behaviour into uses which are conducive to growth. On this account, notable examples include Taiwan and South Korea where states intervened heavily and used patron-client relationships
Patronage
Patronage is the support, encouragement, privilege, or financial aid that an organization or individual bestows to another. In the history of art, arts patronage refers to the support that kings or popes have provided to musicians, painters, and sculptors...
in order to further growth.