France and the Failure to Modernize Macroeconomic Institutions

Arbeitspapier

While a great power in the eighteenth century, France fell behind Britain's lead in modernizing her macroeconomic institutions. This paper examines the development of French macroeconomic institutions from the middle ages to the eighteenth century in a comparative framework. Theories of optimal macroeconomic policy and sovereign debt identify the key weaknesses of French institutions that imposed inferior policy choices on the government. Radical reform was blocked by a political economy created by medieval and early modern France. The difficulty experienced by the government in mobilizing resources to fight wars was a key factor contributing to the loss of France's overseas empire in the eighteenth century.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 1999-04

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy ; Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: Pre-1913
• Thema: France ; History ; Macroeconomic policy

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): White, Eugene
• Ereignis: Veröffentlichung
• (wer): Rutgers University, Department of Economics
• (wo): New Brunswick, NJ
• (wann): 1999

Weitere Informationen

• Handle: http://hdl.handle.net/10419/94249
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ