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Pillars of ProsperityThe Political Economics of Development Clusters$
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Timothy Besley and Torsten Persson

Print publication date: 2011

Print ISBN-13: 9780691152684

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691152684.001.0001

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Fiscal Capacity

Fiscal Capacity

Chapter:
(p.40) Chapter 2 Fiscal Capacity
Source:
Pillars of Prosperity
Author(s):

Timothy Besley

Torsten Persson

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691152684.003.0002

This chapter explores the forces that shape investments in fiscal capacity. It sets out a core model that shows how this aspect of state building is influenced by economic and political factors, such as common interests and political institutions. A key feature of the model has been to delineate the types of states that can emerge in equilibrium. It also shows that the model can be given microeconomic foundations and demonstrates how it can be extended in a number of directions that lead to more realism. The main focus of the chapter has been on the extractive role of government and on some of the issues raised in traditional public-finance models. This has laid the groundwork for the analyses to come.

Keywords:   state building, fiscal capacity, investments, economic theory, economic analysis, public-finance models

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