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Fiscal Centralization, Limited Government, and Public Revenues in Europe, 1650–1913

Published online by Cambridge University Press:  01 March 2009

Mark Dincecco
Mark Dincecco*
Affiliation:
Assistant Professor, Department of Economics, IMT Lucca Institute for Advanced Studies, Piazza San Ponziano 6, Lucca, Italy, 55100. E-mail: m.dincecco@imtlucca.it.
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Abstract

Old Regime polities typically suffered from fiscal fragmentation and absolutist rule. By the start of World War I, however, many such countries had centralized institutions and limited government. This article uses a new panel data set to perform a statistical analysis of political regimes and public revenues in Europe from 1650 to 1913. Panel regressions indicate that centralized and limited regimes were associated with significantly higher revenues than fragmented and absolutist ones. Structural break tests also suggest close relationships between major turning points in revenue series and political transformations.

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The Journal of Economic History , Volume 69 , Issue 1 , March 2009 , pp. 48 - 103
Copyright
Copyright © The Economic History Association 2009

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