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Fiscal, financial and monetary foundations for the formation of nation states in the west compared to imperial states in the east c.1415–c.1839

O'Brien, Patrick (2013) Fiscal, financial and monetary foundations for the formation of nation states in the west compared to imperial states in the east c.1415–c.1839. Journal of Chinese Economic and Business Studies, 11 (3). pp. 161-168. ISSN 1476-5284

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Identification Number: 10.1080/14765284.2013.814455

Abstract

This speech introduces O'Brien's research approach to the divergence debate and presents the fiscal capacities of the states as the key condition for ushering in modern economic growth in the pre-industrialization West. The concerns of pre-modern European states (1415-1839) were not with economic development, but with external security and internal stability of their kingdoms. Mercantilism prepared European states for capitalist industrialization. Historical evidence supports the hypothesis that effective command and control over sovereign revenues were what gave Britain and other European states the advantage over their oriental counterparts in providing public goods of external security and internal stability, which made the divergence in economic development inevitable.

Item Type: Article
Official URL: http://www.tandfonline.com/toc/rcea20/current
Additional Information: © 2013 The Chinese Economic Association-UK
Divisions: Economic History
Subjects: H Social Sciences > HC Economic History and Conditions
Date Deposited: 21 Aug 2013 07:40
Last Modified: 20 Aug 2021 00:54
URI: http://eprints.lse.ac.uk/id/eprint/51794

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