Pawned states : state building in the era of international finance / Didac Queralt.

Format:

Book

Author/Creator:

Queralt, Dídac, author.

Series:

Princeton economic history of the western world.

Princeton scholarship online.

The Princeton economic history of the western world

Princeton scholarship online

Language:

English

Subjects (All):

International economic relations.

Nation-building.

Debts, External.

Debts, Public.

Physical Description:

1 online resource (368 p.) : 45 b/w illus. 20 tables.

Place of Publication:

Princeton : Princeton University Press, [2023]

Language Note:

In English.

Summary:

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.

Contents:

A Political Economy of External Finance

The Globalization of Public Credit

Extreme Conditionality in International Lending

Debt Traps and Foreign Financial Control

War Finance

War, Credit, and Fiscal Capacity

Mechanisms of Persistence

State Building Trajectories.

Notes:

Previously issued in print: 2022.

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (viewed on June 8, 2023).

ISBN:

9780691231518

0691231516

OCLC:

1323254620