Public Debt and the Birth of the Democratic State: France and Great Britain 1688-1789 / Edition 1

Public Debt and the Birth of the Democratic State: France and Great Britain 1688-1789 / Edition 1

by David Stasavage
     
 

ISBN-10: 0521809673

ISBN-13: 9780521809672

Pub. Date: 07/01/2003

Publisher: Cambridge University Press

Does establishing representative democracy increase commitment to repaying public debt? This book develops a new theory about the link between debt and democracy and applies it to a classic historical comparison: eighteenth century Great Britain (which had strong representative institutions and sound public finance) vs. ancien regime France (which had neither).

Overview

Does establishing representative democracy increase commitment to repaying public debt? This book develops a new theory about the link between debt and democracy and applies it to a classic historical comparison: eighteenth century Great Britain (which had strong representative institutions and sound public finance) vs. ancien regime France (which had neither). The study asserts that whether representative institutions improve commitment depends on the opportunities for government creditors to form coalitions with other groups. It is relevant to developing country governments with implications for government policy where credibility is a concern.

Product Details

ISBN-13:
9780521809672
Publisher:
Cambridge University Press
Publication date:
07/01/2003
Series:
Political Economy of Institutions and Decisions Series
Edition description:
New Edition
Pages:
210
Product dimensions:
5.98(w) x 9.02(h) x 0.63(d)

Table of Contents

1. Introduction; 2. A model of credible commitment under representative government; 3. Historical background: sovereign borrowing in Europe before 1688; 4. Trends in French and British sovereign borrowing 1689–1789; 5. Partisan politics and public debt in Great Britain: 1689–1789; 6. Partisan politics and public debt in France: 1689–1789; 7. Stability of representative institutions in France and Great Britain; 8. Conclusion.

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