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Banking on the King: The Evolution of the Royal Revenue Farms in Old Regime France

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  • Johnson, Noel D.

Abstract

The writing and allocation of French tax farm contracts changed dramatically after the Fronde (1648–1653): they were gradually transformed from small, competitively auctioned, units into a large cartel known as the Company of General Farms. Surprisingly, the crown's revenues increased. I present a transaction cost argument to explain the behavior of tax farm lease prices as tax farming changed during the seventeenth century. Cartelization of tax farms lowered costs faced by the crown. The tax farm system's evolution offers insights into how organizations evolve to protect their property rights in the absence of well functioning representative institutions.

Suggested Citation

  • Johnson, Noel D., 2006. "Banking on the King: The Evolution of the Royal Revenue Farms in Old Regime France," The Journal of Economic History, Cambridge University Press, vol. 66(4), pages 963-991, December.
  • Handle: RePEc:cup:jechis:v:66:y:2006:i:04:p:963-991_00
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    Cited by:

    1. Bolt, Jutta & Gardner, Leigh, 2020. "How Africans Shaped British Colonial Institutions: Evidence from Local Taxation," The Journal of Economic History, Cambridge University Press, vol. 80(4), pages 1189-1223, December.
    2. Johnson, Noel D. & Koyama, Mark, 2017. "States and economic growth: Capacity and constraints," Explorations in Economic History, Elsevier, vol. 64(C), pages 1-20.
    3. Noel D., Johnson & Mark, Koyama, 2012. "Standardizing the fiscal state: cabal tax farming as an Intermediate Institution in early-modern England and France," MPRA Paper 40403, University Library of Munich, Germany.
    4. Metin M. CoÅŸgel & Thomas J. Miceli, 2009. "Tax Collection in History," Public Finance Review, , vol. 37(4), pages 399-420, July.
    5. Noel D. Johnson & Mark Koyama, 2014. "Taxes, Lawyers, and the Decline of Witch Trials in France," Journal of Law and Economics, University of Chicago Press, vol. 57(1), pages 77-112.
    6. Johnson, Noel D. & Koyama, Mark, 2014. "Tax farming and the origins of state capacity in England and France," Explorations in Economic History, Elsevier, vol. 51(C), pages 1-20.
    7. Bolt, Jutta & Gardner, Leigh, 2019. "African institutions under colonial rule," CEPR Discussion Papers 14198, C.E.P.R. Discussion Papers.
    8. Johnson, Noel, 2015. "Taxes, National Identity, and Nation Building: Evidence from France," MPRA Paper 63598, University Library of Munich, Germany.

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