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Author | : Didac Queralt |
Publisher | : Princeton University Press |
Total Pages | : 368 |
Release | : 2022-08-09 |
Genre | : Political Science |
ISBN | : 0691231516 |
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How foreign lending weakens emerging nations In 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.
Author | : Didac Queralt |
Publisher | : Princeton University Press |
Total Pages | : 368 |
Release | : 2022-08-09 |
Genre | : Political Science |
ISBN | : 0691231524 |
Download Pawned States Book in PDF, ePub and Kindle
How foreign lending weakens emerging nations In 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.
Author | : Robert W. MacDonald |
Publisher | : Princeton University Press |
Total Pages | : 421 |
Release | : 2015-12-08 |
Genre | : Political Science |
ISBN | : 1400875285 |
Download The League of Arab States Book in PDF, ePub and Kindle
The founding, structure, and operations of the League of Arab States since its organization in 1945 are analyzed. In the first half of the book the author discusses the League's decision-making processes, considers regional dynamics, the polarization of power between Egypt and Iraq, and the impact of such major issues as Palestine on the League. He considers the League’s techniques of cooperation with the United Nations and its specialized agencies, neutralism and nonalignment, and the boycott of Israel. In the latter half of the study, three major operational questions typical of regional organizations are examined: functional integration in cultural, social, economic, and scientific affairs; problems of regional security and peaceful settlement of disputes; and interaction between the Arab League and the United Nations. Originally published in 1965. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author | : United States. Bureau of Foreign Commerce |
Publisher | : |
Total Pages | : 816 |
Release | : 1894 |
Genre | : Consular reports |
ISBN | : |
Download Reports from the Consuls of the United States Book in PDF, ePub and Kindle
Author | : Federated Malay States |
Publisher | : |
Total Pages | : 768 |
Release | : 1921 |
Genre | : Law |
ISBN | : |
Download The Laws of the Federated Malay States, 1877-1920 Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 92 |
Release | : 1999 |
Genre | : Criminal records |
ISBN | : |
Download Survey of State Procedures Related to Firearm Sales Book in PDF, ePub and Kindle
Author | : Delaware |
Publisher | : |
Total Pages | : 2810 |
Release | : 1915 |
Genre | : Law |
ISBN | : |
Download Revised Statutes of the State of Delaware, to the Year of Our Lord One Thousand Nine Hundred and Fifteen Book in PDF, ePub and Kindle
Author | : Aimée Carter |
Publisher | : Harlequin |
Total Pages | : 346 |
Release | : 2013-11-26 |
Genre | : Juvenile Fiction |
ISBN | : 0373210558 |
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Escaping a life of marginalization and misery, Kitty Doe joins the most powerful family in the country, a choice that requires her to assume the identity of the Prime Minister's niece and stop a rebellion that ended her predecessor's life.
Author | : Japan. Sōryōjikan (San Francisco, Calif.) |
Publisher | : |
Total Pages | : 1506 |
Release | : 1925 |
Genre | : Aliens |
ISBN | : |
Download Documental History of Law Cases Affecting Japanese in the United States Book in PDF, ePub and Kindle
Author | : Japan. Consulate. San Francisco |
Publisher | : |
Total Pages | : 434 |
Release | : 1925 |
Genre | : Aliens |
ISBN | : |
Download Documental History of Law Cases Affecting Japanese in the United States, 1916-1924 ... Book in PDF, ePub and Kindle