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1、PUBLICDEBTANDTHEBIRTHOFTHEDEMOCRATICSTATEfranceandgreatbritain,1688–1789Doesestablishingrepresentativedemocracyincreasecommitmenttorepaypublicdebt?Thisbookdevelopsanewtheoryaboutthelinkbetweendebtanddemocracyandappliesittoaclassichistoricalcomparison:GreatBritain
2、intheeighteenthcentury,whichhadstrongrepresentativeinstitutionsandsoundpublicfinance,versusancienregimeFrance,whichhadneither.Thebookarguesthatwhetherrepresentativeinstitutionsimprovecommitmentdependsontheopportunitiesforgovernmentcreditorstoformnewcoali-tionswith
3、othersocialgroups,whichismorelikelytooccurwhenasocietyisdividedacrossmultiplepoliticalcleavages.ItthenpresentshistoricalevidencetoshowthatimprovedaccesstofinanceinGreatBritainafter1688hadasmuchtodowiththedevelopmentoftheWhigPartyaswithconstitutionalchanges.InFranc
4、e,thebalanceofpartisanforcesmadeitunlikelythatanearlyadoptionof“English-style”institutionswouldhaveimprovedcredi-bility.Giventheimportanceofgovernmentcredibilityfordifferentissues,theargumentsdevelopedherewillberelevantforawiderangeofscholars.DavidStasavageisaLec
5、turerintheDepartmentofInternationalRelationsattheLondonSchoolofEconomics.Hisresearchfocusesonthepoliticaleconomyofmoneyandfinanceandoncomparativepoliticaleconomymoregenerally.HeholdsaPh.D.fromtheDepartmentofGovernmentatHarvardUniversityandhaspublishedinanumberofpo
6、liticalscienceandeconomicsjournals.politicaleconomyofinstitutionsanddecisionsSeriesEditorsRandallCalvert,WashingtonUniversity,St.LouisThrainnEggertsson,MaxPlanckInstitute,Germany,andUniversityofIcelandFoundingEditorsJamesE.Alt,HarvardUniversityDouglassC.North,Was
7、hingtonUniversity,St.LouisOtherBooksintheSeriesAlesinaandHowardRosenthal,PartisanPolitics,DividedGovernmentandtheEconomyLeeJ.Alston,ThrainnEggertssonandDouglassC.North,eds.,EmpiricalStudiesinInstitutionalChangeLeeJ.AlstonandJosephP.Ferrie,SouthernPaternalismandth
8、eRiseoftheAmericanWelfareState:Economics,Politics,andInstitutions,1865–1965JamesE.AltandKennethShepsle,eds.,PerspectivesonPositivePoliticalEconomyJeffreyS.Bank
