Public Debt and the Birth of the Democratic State

France and Great Britain 1688–1789

By:

David Stasavage

Format:

Paperback / softback

Series:

Political Economy of Institutions and Decisions

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Description

This book develops new theory about the link between debt and democracy and applies it to a classic historical comparison: Great Britain in the eighteenth century which had strong representative institutions and sound public finance vs. ancient regime France, which had neither. The book argues that whether representative institutions improve commitment depends on the opportunities for government creditors to form new coalitions with other social groups, more likely to occur when a society is divided across multiple political cleavages. It then presents historical evidence to show that improved access to finance in Great Britain after 1688 had as much to do with the development of the Whig Party as with constitutional changes. In France, it is suggested that the balance of partisan forces made it unlikely that an early adoption of 'English-style' institutions would have improved credibility.

Release date NZ

August 28th, 2008

Author

David Stasavage

Audience

Postgraduate, Research & Scholarly

Illustrations

9 Tables, unspecified; 11 Line drawings, unspecified

Pages

224

Series

Political Economy of Institutions and Decisions

Dimensions

152x225x13

ISBN-13

9780521071277

Product ID

2616018

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