Catalogue


Paths toward the modern fiscal state : England, Japan, and China /
Wenkai He.
imprint
Cambridge, Mass. : Harvard University Press, 2013.
description
x, 313 p. ; 25 cm.
ISBN
0674072782 (hbk.), 9780674072787 (hbk.)
format(s)
Book
Holdings
More Details
imprint
Cambridge, Mass. : Harvard University Press, 2013.
isbn
0674072782 (hbk.)
9780674072787 (hbk.)
contents note
Credit crises in the rise of the modern fiscal state -- England's path, 1642-1752 -- The rapid centralization of public finance in Japan, 1868-1880 -- The emergence of a modern fiscal state in Japan, 1880-1895 -- Economic disruption and the failure of paper money in China, 1851-1864 -- The persistence of fiscal decentralization in China, 1864-1911.
catalogue key
8862491
 
Includes bibliographical references (p. 259-300) and index.
A Look Inside
Reviews
Review Quotes
An outstanding work that takes on a classic subject in a new way. In its sweeping transnational synthesis, careful research, and perceptive analysis, Paths toward the Modern Fiscal State is a major achievement, the first of its kind in its field.
A genuinely important piece of scholarship that has the potential to become a benchmark in the literature. The author combines new institutionalism, comparative historical sociology, and first-rate historical scholarship to make a novel and compelling explanation for the rise of the modern fiscal state. This book will be of particular interest today, given its relevance to the debt and credit crises that so many countries in the developed world are currently experiencing.
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Summaries
Main Description
The rise of modern public finance revolutionized political economy. As governments learned to invest tax revenue in the long-term financial resources of the market, they vastly increased their administrative power and gained the ability to use fiscal, monetary, and financial policy to manage their economies. But why did the modern fiscal state emerge in some places and not in others? In approaching this question, Wenkai He compares the paths of three different nations-England, Japan, and China-to discover why some governments developed the tools and institutions of modern public finance, while others, facing similar circumstances, failed to do so. Focusing on three key periods of institutional development-the decades after the English Civil Wars, the Meiji Restoration, and the Taiping Rebellion-He demonstrates how each event precipitated a collapse of the existing institutions of public finance. Facing urgent calls for revenue, each government searched for new ways to make up the shortfall. These experiments took varied forms, from new methods of taxation to new credit arrangements. Yet, while England and Japan learned from their successes and failures how to deploy the tools of modern public finance and equipped themselves to become world powers, China did not. He's comparative historical analysis isolates the nature of the credit crisis confronting each state as the crucial factor in determining its specific trajectory. This perceptive and persuasive explanation for China's failure at a critical moment in its history illuminates one of the most important but least understood transformations of the modern world.
Main Description
The rise of modern public finance revolutionized political economy. As governments learned to invest tax revenue in the long-term financial resources of the market, they vastly increased their administrative power and gained the ability to use fiscal, monetary, and financial policy to manage their economies. But why did the modern fiscal state emerge in some places and not in others? In approaching this question, Wenkai He compares the paths of three different nations'England, Japan, and China'to discover why some governments developed the tools and institutions of modern public finance, while others, facing similar circumstances, failed to do so. Focusing on three key periods of institutional development'the decades after the English Civil Wars, the Meiji Restoration, and the Taiping Rebellion'He demonstrates how each event precipitated a collapse of the existing institutions of public finance. Facing urgent calls for revenue, each government searched for new ways to make up the shortfall. These experiments took varied forms, from new methods of taxation to new credit arrangements. Yet, while England and Japan learned from their successes and failures how to deploy the tools of modern public finance and equipped themselves to become world powers, China did not. He's comparative historical analysis isolates the nature of the credit crisis confronting each state as the crucial factor in determining its specific trajectory. This perceptive and persuasive explanation for China's failure at a critical moment in its history illuminates one of the most important but least understood transformations of the modern world.
Table of Contents
Acknowledgmentsp. vii
Introductionp. 1
Credit Crises in the Rise of the Modern Fiscal Statep. 24
England's Path, 1642-1752p. 51
The Rapid Centralization of Public Finance in Japan, 1868-1880p. 78
The Emergence of the Modern Fiscal State in Japan, 1880-1895p. 105
Economic Disruption and the Failure of Paper Money in China, 1851-1864p. 131
The Persistence of Fiscal Decentralization in China, 1864-1911p. 153
Conclusionp. 180
Notesp. 189
Bibliographyp. 259
Indexp. 301
Table of Contents provided by Ingram. All Rights Reserved.

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