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Was There a Solution to the Ancien Régime's Financial Dilemma?

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  • White, Eugene Nelson

Abstract

The fiscal policy accomplishments of the ancien régime during its last two decades in France have been greatly underappreciated. While the collapse of the monarchy has been attributed to persistent peacetime deficits, these did not appear until the mid-1780s when earlier reforms and successful budget policies were abandoned by reactionary finance ministers. Had the earlier policies been continued, it is unlikely that a severe crisis would have occurred in 1788/89.

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  • White, Eugene Nelson, 1989. "Was There a Solution to the Ancien Régime's Financial Dilemma?," The Journal of Economic History, Cambridge University Press, vol. 49(3), pages 545-568, September.
    • Handle: RePEc:cup:jechis:v:49:y:1989:i:03:p:545-568_00
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    Cited by:

    1. Kim Oosterlinck & Loredana Ureche-Rangau & Jacques-Marie Vaslin, 2013. "Waterloo: a Godsend for French Public Finances?," Working Papers 0041, European Historical Economics Society (EHES).
    2. Rouanet, Louis, 2023. "Foutu maximum: The political economy of price controls and national defense in revolutionary France," Explorations in Economic History, Elsevier, vol. 88(C).
    3. Leonor Freire Costa & Susana Münch Miranda, 2023. "Reputational recovery under political instability: Public debt in Portugal, 1641–83," Economic History Review, Economic History Society, vol. 76(3), pages 871-891, August.
    4. James Conklin, 1998. "The Theory of Sovereign Debt and Spain under Philip II," Journal of Political Economy, University of Chicago Press, vol. 106(3), pages 483-513, June.
    5. Sumner La Croix, 2014. "Land Confiscations and land reform in Natural-Order States," Working Papers 201406, University of Hawaii at Manoa, Department of Economics.
    6. Oosterlinck, Kim & Ureche-Rangau, Loredana & Vaslin, Jacques-Marie, 2014. "Baring, Wellington and the Resurrection of French Public Finances Following Waterloo," The Journal of Economic History, Cambridge University Press, vol. 74(4), pages 1072-1102, December.
    7. Antoin E. Murphy, 2004. "Corporate Ownership in France: The Importance of History," NBER Working Papers 10716, National Bureau of Economic Research, Inc.
    8. Mark Dincecco, 2010. "The Political Economy Of Fiscal Prudence In Historical Perspective," Economics and Politics, Wiley Blackwell, vol. 22(1), pages 1-36, March.
    9. Barseghyan, Levon & Molinari, Francesca & Velde, Francois, 2004. "REgional," Working Papers 04-06, Cornell University, Center for Analytic Economics.
    10. Sargent, Thomas J & Velde, Francois R, 1995. "Macroeconomic Features of the French Revolution," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 474-518, June.
    11. Michael D. Bordo & Eugene N. White, 1990. "British and French Finance During the Napoleonic Wars," NBER Working Papers 3517, National Bureau of Economic Research, Inc.
    12. Eugene N. White, 2004. "From privatized to government‐administered tax collection: tax farming in eighteenth‐century France," Economic History Review, Economic History Society, vol. 57(4), pages 636-663, November.
    13. Oosterlinck, Kim & Ureche-Rangau, Loredana & Vaslin, Jacques-Marie, 2019. "Aristocratic Privilege. Exploiting “Good†Institutions," CEPR Discussion Papers 14071, C.E.P.R. Discussion Papers.
    14. Vesperoni , Alberto, 2013. "War Finance and the Modern State," NEPS Working Papers 6/2013, Network of European Peace Scientists.

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