Pawned States : : State Building in the Era of International Finance / / Didac Queralt.
How foreign lending weakens emerging nationsIn the nineteenth century, many developing countries turned to the credit houses of Europe for sovereign loans to balance their books and weather major fiscal shocks such as war. This reliance on external public finance offered emerging nations endless opp...
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Superior document: | Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2022 English |
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Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2022] ©2022 |
Year of Publication: | 2022 |
Language: | English |
Series: | The Princeton Economic History of the Western World ;
110 |
Online Access: | |
Physical Description: | 1 online resource (368 p.) :; 45 b/w illus. 20 tables. |
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100 | 1 | |a Queralt, Didac, |e author. |4 aut |4 http://id.loc.gov/vocabulary/relators/aut | |
245 | 1 | 0 | |a Pawned States : |b State Building in the Era of International Finance / |c Didac Queralt. |
264 | 1 | |a Princeton, NJ : |b Princeton University Press, |c [2022] | |
264 | 4 | |c ©2022 | |
300 | |a 1 online resource (368 p.) : |b 45 b/w illus. 20 tables. | ||
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490 | 0 | |a The Princeton Economic History of the Western World ; |v 110 | |
505 | 0 | 0 | |t Frontmatter -- |t CONTENTS -- |t List of Figures -- |t List of Tables -- |t Acknowledgments -- |t 1 Introduction -- |t 2 A Political Economy of External Finance -- |t PART I. THE RISE OF GLOBAL FINANCE -- |t 3 The Globalization of Public Credit -- |t 4 Extreme Conditionality in International Lending -- |t 5 Debt Traps and Foreign Financial Control -- |t PART II. THE CONSEQUENCES OF GLOBAL FINANCE FOR STATE BUILDING -- |t 6 War Finance -- |t 7 War, Credit, and Fiscal Capacity -- |t 8 Mechanisms of Persistence -- |t 9 State Building Trajectories -- |t 10 Conclusion -- |t Bibliography -- |t Index |
506 | 0 | |a restricted access |u http://purl.org/coar/access_right/c_16ec |f online access with authorization |2 star | |
520 | |a How foreign lending weakens emerging nationsIn the nineteenth century, many developing countries turned to the credit houses of Europe for sovereign loans to balance their books and weather major fiscal shocks such as war. This reliance on external public finance offered emerging nations endless opportunities to overcome barriers to growth, but it also enabled rulers to bypass critical stages in institution building and political development. Pawned States reveals how easy access to foreign lending at early stages of state building has led to chronic fiscal instability and weakened state capacity in the developing world.Drawing on a wealth of original data to document the rise of cheap overseas credit between 1816 and 1913, Didac Queralt shows how countries in the global periphery obtained these loans by agreeing to “extreme conditionality,” which empowered international investors to take control of local revenue sources in cases of default, and how foreclosure eroded a country’s tax base and caused lasting fiscal disequilibrium. Queralt goes on to combine quantitative analysis of tax performance between 1816 and 2005 with qualitative historical analysis in Latin America, Asia, Africa, and the Middle East, illustrating how overreliance on external capital by local leaders distorts their incentives to expand tax capacity, articulate power sharing institutions, and strengthen bureaucratic apparatus.Panoramic in scope, Pawned States sheds needed light on how early and easy access to external finance pushes developing nations into trajectories characterized by fragile fiscal institutions and autocratic politics. | ||
538 | |a Mode of access: Internet via World Wide Web. | ||
546 | |a In English. | ||
588 | 0 | |a Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Mai 2023) | |
650 | 0 | |a Economic development. | |
650 | 0 | |a Economic history. | |
650 | 7 | |a POLITICAL SCIENCE / Geopolitics. |2 bisacsh | |
653 | |a Asset. | ||
653 | |a Austerity. | ||
653 | |a Balance of trade. | ||
653 | |a Baring crisis. | ||
653 | |a Ben Ansell. | ||
653 | |a Bond (finance). | ||
653 | |a Bond market. | ||
653 | |a Bowring Treaty. | ||
653 | |a Capital control. | ||
653 | |a Capital market. | ||
653 | |a Cold War (1985–91). | ||
653 | |a Colonial war. | ||
653 | |a Comparative advantage. | ||
653 | |a Conditionality. | ||
653 | |a Consumer debt. | ||
653 | |a Corporate tax. | ||
653 | |a Credit (finance). | ||
653 | |a Credit crunch. | ||
653 | |a Creditor. | ||
653 | |a Currency. | ||
653 | |a Debt relief. | ||
653 | |a Debt restructuring. | ||
653 | |a Debt. | ||
653 | |a Default (finance). | ||
653 | |a Developmental state. | ||
653 | |a Dollar diplomacy. | ||
653 | |a Economic interventionism. | ||
653 | |a Economics. | ||
653 | |a Economy. | ||
653 | |a Eurocurrency Market. | ||
653 | |a Exchange rate. | ||
653 | |a Expense. | ||
653 | |a Export subsidy. | ||
653 | |a External debt. | ||
653 | |a Externality. | ||
653 | |a Finance. | ||
653 | |a Financial crisis of 2007–08. | ||
653 | |a Financial repression. | ||
653 | |a First globalization. | ||
653 | |a Fiscal capacity. | ||
653 | |a Fiscal policy. | ||
653 | |a Foreclosure. | ||
653 | |a Foreign direct investment. | ||
653 | |a Fragile States Index. | ||
653 | |a Friedrich List. | ||
653 | |a Global Finance (magazine). | ||
653 | |a Global financial system. | ||
653 | |a Global saving glut. | ||
653 | |a Government bond. | ||
653 | |a Government debt. | ||
653 | |a Great power. | ||
653 | |a Haircut (finance). | ||
653 | |a Home Bias. | ||
653 | |a Household. | ||
653 | |a Hypothecation. | ||
653 | |a Indifference curve. | ||
653 | |a Inflation. | ||
653 | |a Inland Revenue. | ||
653 | |a Institution. | ||
653 | |a Interest rate parity. | ||
653 | |a Interest rate. | ||
653 | |a Investment. | ||
653 | |a Investor. | ||
653 | |a Joseph Schumpeter. | ||
653 | |a Leverage (finance). | ||
653 | |a Likin (taxation). | ||
653 | |a Margaret Levi. | ||
653 | |a Matthew C. Perry. | ||
653 | |a Monopoly. | ||
653 | |a National Policy. | ||
653 | |a Nominal interest rate. | ||
653 | |a Political economy. | ||
653 | |a Pork barrel. | ||
653 | |a Progressive tax. | ||
653 | |a Public expenditure. | ||
653 | |a Public finance. | ||
653 | |a Receipt. | ||
653 | |a Receivership. | ||
653 | |a Rentier state. | ||
653 | |a Revenue. | ||
653 | |a Ruler. | ||
653 | |a Sinking fund. | ||
653 | |a Sino-French War. | ||
653 | |a Tariff. | ||
653 | |a Tax incidence. | ||
653 | |a Tax reform. | ||
653 | |a Tax revenue. | ||
653 | |a Tax shift. | ||
653 | |a Tax. | ||
653 | |a Taxpayer. | ||
653 | |a The Oligarchs. | ||
653 | |a Thomas Robert Malthus. | ||
653 | |a Underwriting. | ||
653 | |a United States debt ceiling. | ||
653 | |a War bond. | ||
653 | |a War. | ||
653 | |a Warfare. | ||
653 | |a Washington Consensus. | ||
653 | |a Why Nations Fail. | ||
653 | |a Zuo Zongtang. | ||
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