Political regimes and sovereign credit risk in Europe, 17501913

European Review of Economic History

Volumn 13, Issue 1, 2009, Pages 31-63

  Dincecco, Mark ^a  

^a IMT SCHOOL FOR ADVANCED STUDIES LUCCA   (Italy)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 66149152789     PISSN: 13614916     EISSN: 14740044     Source Type: Journal    
DOI: 10.1017/S136149160900238X     Document Type: Article

References (86)

1. ACEMOGLU, D., JOHNSON, S. and ROBINSON, J. (2002). Reversal of fortune: geography and development in the making of the modern world income distribution. Quarterly Journal of Economics 117, pp. 1231-94.
2. ACEMOGLU, D., JOHNSON, S. and ROBINSON, J. (2005). The rise of Europe: Atlantic trade, institutional change, and economic growth. American Economic Review 94, pp. 546-79.
3. BAI, J. and PERRON, P. (2003). Computation and analysis of multiple structural-change models. Journal of Applied Econometrics 18, pp. 1-22.
4. BAIROCH, P. (1988). Cities and Economic Development: From the Dawn of History to the Present. Chicago: University of Chicago Press.
5. BECK, N. and KATZ, J. (1995). What to do (and not to do) with time-series cross-section data. American Political Science Review 89, pp. 634-47.
6. BIRMINGHAM, D. (1993). A Concise History of Portugal. Cambridge: Cambridge University Press.
7. BONNEY, R. (1995). Economic Systems and State Finance. Oxford: Oxford University Press.
8. BONNEY, R. (1999). The Rise of the Fiscal State in Europe, 1200-1815. Oxford: Oxford University Press.
9. BORDO, M. and CORTÉS-CONDE, R. (eds.) (2001). Transferring Wealth and Power from the Old to the New World: Monetary and Fiscal Institutions in the Seventeenth through the Nineteenth Centuries. Cambridge: Cambridge University Press.
10. BORDO, M. and ROCKOFF, H. (1996). The gold standard as a good housekeeping seal of approval. Journal of Economic History 56, pp. 389-428.
11. BREWER, J. (1989). The Sinews of Power: War, Money, and the English State, 1688-1783. London: Unwin Hyman.
12. BROWN, W. and BURDEKIN, R. (2000). Turning points in the US Civil War: a British perspective. Journal of Economic History 60, pp. 216-31.
13. BROWN, W., BURDEKIN, R. and WEIDENMIER, M. (2006). Volatility in an era of reduced uncertainty: lessons from Pax Brittanica. Journal of Financial Economics 79, 693-707.
14. CAIN, P. J. and HOPKINS, A. G. (1994). British Imperialism. London: Longman.
15. CLARK, G. (1996). The political foundations of modern economic growth: England, 1540-1800. Journal of Interdisciplinary History 26, pp. 563-88.
16. CLODFELTER, M. (2002). Warfare and Armed Conflicts: A Statistical Reference to Casualty and Other Figures, 1500-2000, 2nd edn. Jefferson: McFarland.
17. CUST, R. (1987). The Forced Loan and English Politics, 1626-1628. Oxford: Clarendon Press.
18. DAVIS, L. and HUTTENBACK, R. (1986). Mammon and the Pursuit of Empire: The Political Economy of British Imperialism. Cambridge: Cambridge University Press.
19. DE VRIES, J. (1984). European Urbanization, 1500-1800. Cambridge, MA: Harvard University Press.
20. DICKSON, P. (1967). The Financial Revolution in England: A Study in the Development of Public Credit, 1688-1756. New York: St Martin's Press.
21. DINCECCO, M. (2009a). Fiscal centralization, limited government, and public revenues in Europe, 1650-1913. Journal of Economic History 69, pp. 48-103.
22. DINCECCO, M. (2009b). The political economy of fiscal prudence in historical perspective. Forthcoming, Economics & Politics.
23. EPSTEIN, S. R. (2000). Freedom and Growth: Markets and States in Europe, 1300-1750. London: Routledge.
24. FERGUSON, N. (1998). The House of Rothschild: Money's Prophet, 1798-1848. New York: Penguin.
25. FERGUSON, N. (2006). Political risk and the international bond market between the 1848 revolution and the outbreak of the First World War. Economic History Review 59, pp. 70-112.
26. FERGUSON, N. and SCHULARICK, M. (2006). The empire effect: determinants of country risk in the first age of globalization, 1880-1913. Journal of Economic History 66, pp. 283-312.
27. FLANDREAU, M. and ZUMER, F. (2004). The Making of Global Finance, 1880-1913. Paris: OECD.
28. FREY, B. and KUCHER, M. (2000). History as reflected in capital markets: the case of World War II. Journal of Economic History 60, pp. 468-96.
29. FRITSCHY, W. (2007). The efficiency of taxation in Holland. In O. Gelderblom (ed.), The Political Economy of the Dutch Republic. London: Ashgate.
30. FRITSCHY, W., T'HART, M. and HORLINGS, E. (2001). Continuities and discontinuities in Dutch fiscal history, 1515-1913. Mimeo, Thirteenth Economic History Congress.
31. FRITSCHY, W. and VAN DER VOORT, R. (1997). From fragmentation to unification: public finance, 1700-1914. In M. t'Hart, J. Jonker and J. L. van Zanden (eds.), A Financial History of the Netherlands. Cambridge: Cambridge University Press. Global Financial Database. www.globalfinancialdata.com
32. GREENE, W. (2000). Econometric Analysis, 4th edn. Upper Saddle River: Prentice-Hall.
33. HILL, C. (1980). The Century of Revolution, 1603-1714. Walton-on-Thames: Nelson.
34. HIRST, D. (1986). Authority and Conflict: England, 1603-1658. Cambridge, MA: Harvard University Press.
35. HOFFMAN, P. and NORBERG, K. (1994). Fiscal Crises, Liberty, and Representative Government, 1450-1789. Palo Alto: Stanford University Press.
36. HOFFMAN, P. and ROSENTHAL, J. L. (1997). The political economy of warfare and taxation in early modern Europe: historical lessons for economic development. In J. Drobak and J. Nye (eds.), The Frontiers of the New Institutional Economics. St Louis: Academic Press.
37. HOHENBERG, P. and LEES, L. (1985). The Making of Urban Europe, 1000-1950. Cambridge, MA: Harvard University Press.
38. HOMER, S. and SYLLA, R. (1991). A History of Interest Rates. New Brunswick, NJ: Rutgers University Press.
39. JACKSON, H. (1974). A Short History of France from Early Times to 1972. Cambridge: Cambridge University Press.
40. JONES, J. (1972). The Revolution of 1688 in England. London: Weidenfeld and Nicolson.
41. KISER, E. and SCHNEIDER, J. (1994). Bureaucracy and efficiency: an analysis of taxation in early modern Prussia. American Sociological Review 59, pp. 187-204.
42. KINDLEBERGER, C. (1984). A Financial History of Western Europe. London: Allen and Unwin.
43. LA PORTA, R., LOPEZ-DE-SILANES, F. and SHLEIFER, A. (2008). The economic consequences of legal origins. Journal of Economic Literature 46, pp. 285-332.
44. LA PORTA, R., LOPEZ-DE-SILANES, F., SHLEIFER, A. and VISHNY, R. (1997). Legal Determinants of External Finance. Journal of Finance 52, 1131-50.
45. LA PORTA, R., LOPEZ-DE-SILANES, F., SHLEIFER, A. and VISHNY, R. (1998). Law and finance. Journal of Political Economy 106, pp. 1113-55.
46. LA PORTA, R., LOPEZ-DE-SILANES, F., SHLEIFER, A. and VISHNY, R. (1999). The quality of government. Journal of Law, Economics, and Organization 15, pp. 222-79.
47. MADDISON, A. (2003). The World Economy: Historical Statistics. Paris: OECD.
48. MATA, E. and VALERIO, N. (2002). Història econòmica de Portugal. Lisbon: Editorial Presença.
49. MATHIAS, P. and O'BRIEN, P. (1976). Taxation in Britain and France, 1715-1810: a comparison of the social and economic incidence of taxes collected for the central governments. Journal of European Economic History 5, pp. 601-50.
50. MAURO, P., SUSSMAN, N. and YAFEH, Y. (2002). Emerging market spreads: then versus now. Quarterly Journal of Economics 117, pp. 695-733.
51. MEISSNER, C. (2005). A new world order: explaining the emergence of the classic gold standard. Journal of International Economics 6, pp. 385-406.
52. MITCHENER, K. and WEIDENMIER, M. (2005). Empire, public goods, and the Roosevelt corollary. Journal of Economic History 65, pp. 658-92.
53. MOKYR, J. (1998). The Second Industrial Revolution, 1870-1914. In V. Castronono (ed.), Storia dell'economia Mondiale. Rome: Laterza.
54. MOKYR, J. (1999). The British Industrial Revolution: An Economic Perspective. Boulder, CO: Westview.
55. National Accounts of the Netherlands. nationalaccounts.niwi.knaw. nl
56. NORTH, D. and WEINGAST, B. (1989). Constitutions and commitment: the evolution of institutions governing public choice in seventeenth-century England. Journal of Economic History 49, pp. 803-32.
57. O'BRIEN, P. (2001). Fiscal exceptionalism: Great Britain and its European rivals, from Civil War to triumph at Trafalgar and Waterloo. Working Paper 65/01, London School of Economics.
58. OBSTFELD, M. and TAYLOR, A. (2003). Sovereign risk, credibility, and the gold standard: 1870-1913 versus 1925-31. Economic Journal 113, pp. 241-75.
59. PRICE, R. (1993). A Concise History of France. Cambridge: Cambridge University Press.
60. QUINN, S. (2001). The Glorious Revolution's effect on English private finance: a microhistory, 1680-1705. Journal of Economic History 61, pp. 593-615.
61. REINHART, C., ROGOFF, K. and SAVASTANO, M. (2003). Debt intolerance. Brookings Papers on Economic Activity, 1, pp. 1-74.
62. ROSENTHAL, J. L. (1998). The political economy of absolutism reconsidered. In R. Bates et al. (eds.), Analytic Narratives. Princeton: Princeton University Press.
63. ROSENTHAL, J. L. and WONG, R. B. (2007). Warfare and economic growth in China and Europe. Mimeo, University of California, Los Angeles.
64. SACKS, D. (1994). The paradox of taxation: fiscal crises, parliament, and liberty in England, 1450-1640. In P. Hoffman and K. Norberg (eds.), Fiscal Crises, Liberty, and Representative Government, 1450-1789. Palo Alto: Stanford University Press.
65. SARGENT, T. and VELDE, F. (1995). Macroeconomic features of the French Revolution. Journal of Political Economy 103, pp. 474-518.
66. STASAVAGE, D. (2003). Public Debt and the Birth of the Democratic State: France and Great Britain, 1688-1789. Cambridge: Cambridge University Press.
67. STASAVAGE, D. (2005). Cities, constitutions, and sovereign borrowing in Europe, 1274-1785. International Organization 61, pp. 489-526.
68. STONE, L. (1979). The Crisis of the Aristocracy, 1558-1641. Oxford: Clarendon Press.
69. SUMMERHILL, W. (2004). Inglorious revolution: political institutions, sovereign debt, and financial underdevelopment in imperial Brazil. Mimeo, University of California, Los Angeles.
70. SUSSMAN, N. and YAFEH, Y. (2000). Institutions, reforms, and country risk: lessons from Japanese government debt in the Meiji era. Journal of Economic History 60, pp. 442-67.
71. SUSSMAN, N. and YAFEH, Y. (2006). Institutional reforms, financial development, and sovereign debt: Britain, 1690-1790. Journal of Economic History 66, pp. 906-35.
72. T'HART, M. (1997). The merits of a financial revolution: public finance, 1550-1700. In M. t'Hart, J. Jonker and J. L. van Zanden (eds.), A Financial History of the Netherlands. Cambridge: Cambridge University Press.
73. TILLY, C. (1990). Coercion, Capital, and European States, 990-1990. Cambridge: Blackwell.
74. TILLY, R. (1966). The political economy of public finance and the industrialization of Prussia, 1815-1866. Journal of Economic History 26, pp. 484-97.
75. TILLY, R. (1967). The political economy of public finance and the industrialization of Prussia: a correction. Journal of Economic History 27, p. 391.
76. TORTELLA, G. (2000). The Development of Modern Spain: An Economic History of the Nineteenth and Twentieth Centuries. Cambridge, MA: Harvard University Press.
77. TORTELLA, G. and COMÍN, F. (2001). The merits of a financial revolution: public finance, 1550-1700. In M. Bordo and R. Cortés-Conde (eds.), Transferring Wealth and Power from the Old to the New World: Monetary and Fiscal Institutions in the Seventeenth through the Nineteenth Centuries. Cambridge: Cambridge University Press.
78. VELDE, F. and WEIR, D. (1992). The financial market and government debt policy in France, 1746-1793. Journal of Economic History 52, pp. 1-39.
79. WEIR, D. (1989). The financial market and government debt policy in France, 1746-1793. Journal of Economic History 52, pp. 1-39.
80. WHITE, E. (1989). Was there a solution to the Ancien Régime's financial dilemma? Journal of Economic History 49, pp. 545-68.
81. WHITE, E. (1995). The French Revolution and the politics of government finance, 1770-1815. Journal of Economic History 55, pp. 227-55.
82. WHITE, E. (2001). France and the failure to modernize macroeconomic institutions. In M. Bordo and R. Cortés-Conde (eds.), Transferring Wealth and Power from the Old to the New World: Monetary and Fiscal Institutions in the Seventeenth through the Nineteenth Centuries. Cambridge: Cambridge University Press.
83. WILLARD, K., GUINNANE, T. and ROSEN, H. (1996). Turning points in the Civil War: views from the greenback market. American Economic Review 86, 1001-18.
84. WOOLDRIDGE, J. (2003). Introductory Econometrics: A Modern Approach, 2nd edn. Mason: Thomson South-Western.
85. ZANDEN, J. L. VAN and PRAK, M. (2006). Towards an economic interpretation of citizenship: the Dutch Republic between medieval communes and modern nation-states. European Review of Economic History 10, pp. 111-45.
86. ZANDEN, J. L. VAN and RIEL, A. VAN (2004). The Strictures of Inheritance: The Dutch Economy in the Nineteenth Century. Princeton: Princeton University Press.