@article{1481716,
      recid = {1481716},
      author = {He, Wenkai,},
      title = {Paths toward the Modern Fiscal State : England, Japan, and  China /},
      pages = {1 online resource (325 p.) :},
      abstract = {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.},
      url = {http://library.usi.edu/record/1481716},
      doi = {https://doi.org/10.4159/harvard.9780674074637},
}