David Stasavage, Partisan politics and public debt: The importance Of The 'Whig Supremacy' for Britain's Financial Revolution
David Stasavage is a professor and researcher at the University of New York's Department of Political Studies. His research focuses on many areas of science policy.
However, Professor Stasavage was particularly interested in the functioning of party systems and the relationship between institutions and the economic management of the state. This text, published in 2007, in the European Review of Economic History, is centered round the question of the weight of the party system, and its effects.
Indeed, David Stasavage resumed the discussion as the basis of his analytical theory of interaction between institutions and economic development, by offering this new variable. For him, it would not be institutional changes per se, that would have enabled the financial revolution in Great Britain following the Glorious Revolution, but the use made of its institutions by the same parties, and especially by the Whig Party.
To many economists, financial developments in different countries depend heavily on institutions and their capacity to manage the accounts of the state. While taking up this theory, David Stasavage insists on the existence of another variable.
Tags: David Stasavage, partisan politics, public debt, Britain's financial revolution
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