Pawned States: State Building in the Era of International Finance
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...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Princeton, NJ
Princeton University Press
[2022]
|
| Schriftenreihe: | The Princeton Economic History of the Western World
110 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | 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 |
| Beschreibung: | Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Jul 2022) |
| Beschreibung: | 1 online resource (368 pages) 45 b/w illus. 20 tables |
| ISBN: | 9780691231518 |
| DOI: | 10.1515/9780691231518 |
Internformat
MARC
| LEADER | 00000nam a2200000zcb4500 | ||
|---|---|---|---|
| 001 | BV048391785 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220804s2022 xx a||| o|||| 00||| eng d | ||
| 020 | |a 9780691231518 |9 978-0-691-23151-8 | ||
| 024 | 7 | |a 10.1515/9780691231518 |2 doi | |
| 035 | |a (ZDB-23-DGG)9780691231518 | ||
| 035 | |a (OCoLC)1339079695 | ||
| 035 | |a (DE-599)BVBBV048391785 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 082 | 0 | |a 337 |2 23 | |
| 100 | 1 | |a Queralt, Didac |e Verfasser |4 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 pages) |b 45 b/w illus. 20 tables | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a The Princeton Economic History of the Western World |v 110 | |
| 500 | |a Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Jul 2022) | ||
| 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 | ||
| 546 | |a In English | ||
| 650 | 7 | |a POLITICAL SCIENCE / Geopolitics |2 bisacsh | |
| 650 | 4 | |a International economic relations | |
| 650 | 4 | |a Nation-building | |
| 856 | 4 | 0 | |u https://doi.org/10.1515/9780691231518 |x Verlag |z URL des Erstveröffentlichers |3 Volltext |
| 912 | |a ZDB-23-DGG | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033770486 | |
Datensatz im Suchindex
| _version_ | 1824508096613974016 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Queralt, Didac |
| author_facet | Queralt, Didac |
| author_role | aut |
| author_sort | Queralt, Didac |
| author_variant | d q dq |
| building | Verbundindex |
| bvnumber | BV048391785 |
| collection | ZDB-23-DGG |
| ctrlnum | (ZDB-23-DGG)9780691231518 (OCoLC)1339079695 (DE-599)BVBBV048391785 |
| dewey-full | 337 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 337 - International economics |
| dewey-raw | 337 |
| dewey-search | 337 |
| dewey-sort | 3337 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1515/9780691231518 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zcb4500</leader><controlfield tag="001">BV048391785</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220804s2022 xx a||| o|||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9780691231518</subfield><subfield code="9">978-0-691-23151-8</subfield></datafield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1515/9780691231518</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-23-DGG)9780691231518</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1339079695</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV048391785</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">337</subfield><subfield code="2">23</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Queralt, Didac</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Pawned States</subfield><subfield code="b">State Building in the Era of International Finance</subfield><subfield code="c">Didac Queralt</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Princeton, NJ</subfield><subfield code="b">Princeton University Press</subfield><subfield code="c">[2022]</subfield></datafield><datafield tag="264" ind1=" " ind2="4"><subfield code="c">© 2022</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 online resource (368 pages)</subfield><subfield code="b">45 b/w illus. 20 tables</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">The Princeton Economic History of the Western World</subfield><subfield code="v">110</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Jul 2022)</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="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</subfield></datafield><datafield tag="546" ind1=" " ind2=" "><subfield code="a">In English</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">POLITICAL SCIENCE / Geopolitics</subfield><subfield code="2">bisacsh</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">International economic relations</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Nation-building</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1515/9780691231518</subfield><subfield code="x">Verlag</subfield><subfield code="z">URL des Erstveröffentlichers</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-23-DGG</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033770486</subfield></datafield></record></collection> |
| id | DE-604.BV048391785 |
| illustrated | Illustrated |
| index_date | 2024-07-03T20:21:06Z |
| indexdate | 2025-02-19T17:35:11Z |
| institution | BVB |
| isbn | 9780691231518 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033770486 |
| oclc_num | 1339079695 |
| open_access_boolean | |
| owner | DE-Aug4 |
| owner_facet | DE-Aug4 |
| physical | 1 online resource (368 pages) 45 b/w illus. 20 tables |
| psigel | ZDB-23-DGG |
| publishDate | 2022 |
| publishDateSearch | 2022 |
| publishDateSort | 2022 |
| publisher | Princeton University Press |
| record_format | marc |
| series2 | The Princeton Economic History of the Western World |
| spelling | Queralt, Didac Verfasser aut Pawned States State Building in the Era of International Finance Didac Queralt Princeton, NJ Princeton University Press [2022] © 2022 1 online resource (368 pages) 45 b/w illus. 20 tables txt rdacontent c rdamedia cr rdacarrier The Princeton Economic History of the Western World 110 Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Jul 2022) 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 In English POLITICAL SCIENCE / Geopolitics bisacsh International economic relations Nation-building https://doi.org/10.1515/9780691231518 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Queralt, Didac Pawned States State Building in the Era of International Finance POLITICAL SCIENCE / Geopolitics bisacsh International economic relations Nation-building |
| title | Pawned States State Building in the Era of International Finance |
| title_auth | Pawned States State Building in the Era of International Finance |
| title_exact_search | Pawned States State Building in the Era of International Finance |
| title_exact_search_txtP | Pawned States State Building in the Era of International Finance |
| title_full | Pawned States State Building in the Era of International Finance Didac Queralt |
| title_fullStr | Pawned States State Building in the Era of International Finance Didac Queralt |
| title_full_unstemmed | Pawned States State Building in the Era of International Finance Didac Queralt |
| title_short | Pawned States |
| title_sort | pawned states state building in the era of international finance |
| title_sub | State Building in the Era of International Finance |
| topic | POLITICAL SCIENCE / Geopolitics bisacsh International economic relations Nation-building |
| topic_facet | POLITICAL SCIENCE / Geopolitics International economic relations Nation-building |
| url | https://doi.org/10.1515/9780691231518 |
| work_keys_str_mv | AT queraltdidac pawnedstatesstatebuildingintheeraofinternationalfinance |