Fiscal Modernization - Publications - Faculty & Research

2022
Chapter

Fiscal Development under Colonial and Sovereign Rule

By: Ewout Frankema and Marlous van Waijenburg

This chapter explores differences in the making of a ‘modern’ fiscal state under colonial and sovereign rule. Focusing on African and Asian colonies (1820–1970) and their respective European metropoles, it argues that while the introduction of ‘modern’... View Details

Keywords: Fiscal Modernization; Colonial Rule; Economic History; Sovereign Finance; History; Taxation; Africa; Asia

Citation

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Dominant theories of state formation and nation-building lean heavily on the classic European tale of the simultaneous development of a ‘fiscal state’ and a ‘nation state’. However, this Euro-centered narrative does not factor in that more than two-thirds of the... View Details

29 Nov 2016
Working Paper Summaries

Fiscal Risk and the Portfolio of Government Programs

Keywords: by Samuel G. Hanson, David S. Scharfstein, and Adi Sunderam

September 1993 (Revised September 1997)
Case

China (A): The Great Awakening

By: Debora L. Spar

As the third largest economy after the United States and Japan, China's startling economic growth has spurred increasing interest in the economic, social, and political factors that catapulted the country to sudden prominence. This case starts with an overview of the... View Details

Keywords: History; Government and Politics; Society; Macroeconomics; China

Citation

Educators

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05 Aug 2011
Working Paper Summaries

An Exploration of Optimal Stabilization Policy

Keywords: by N. Gregory Mankiw & Matthew C. Weinzierl

05 Aug 2024
Research & Ideas

Watching for the Next Economic Downturn? Follow Corporate Debt

What really fuels a boom-and-bust cycle in the modern global economy? It’s not always household debt, says a new paper that parses in-depth data across 115 countries. Instead, rising corporate debt may flash the clearest warning that a... View Details

Keywords: by Rachel Layne

01 Apr 2019
What Do You Think?

Does Our Bias Against Federal Deficits Need Rethinking?

scanrail SUMMING UP: Is Modern Monetary Theory a Fancy Term for Today’s Reality? Modern monetary theory (MMT) is “silly thinking” (Andy), “a totally unproven theory” (Alex), a “free lunch” (John), and... View Details

Keywords: by James Heskett

03 Dec 2008
What Do You Think?

Can Housing and Credit be “Nudged” Back to Health?

creating "a modern version of alchemy," turning packages of poorly-rated mortgages into triple-A-rated collateral debt obligations, complete with supposed insurance against risk. The problem was that even financial experts... View Details

Keywords: by Jim Heskett

18 Jul 2005
Research & Ideas

Time to Rethink the Corporate Tax System?

depreciation schedules for investment can be different for tax and accounting purposes, creating a tool for fiscal stimulus. I think this rationale has outlived its usefulness for several reasons. For starters, these different definitions... View Details

Keywords: by Ann Cullen

10 Nov 2011
HBS Case

HBS Cases: Making Lincoln Center Cool Again

Center for the Performing Arts: Alternative Futures, cowritten with Coleman Radell (HBS MBA '11), addresses many more challenges for the Lincoln Center's chief beyond fundraising. The case is a compelling read for nonprofit leaders concerned about budgets in tight... View Details

Keywords: by Kim Girard; Entertainment & Recreation

Research Summary

Overview

By: Matthew C. Weinzierl

My academic research centers on uncovering and closing gaps between the theory and reality of tax policy. My main contribution has been to identify and address a mismatch between the goals for taxation typically assumed in theory and the goals the public and... View Details

26 Feb 2008
First Look

First Look: February 26, 2008

literature that suggests firms reduce marketing expenditures in order to boost reported earnings, we find that soup manufacturers roughly double the frequency of all marketing promotions (price discounts, feature advertisements, and aisle displays) at the View Details

Keywords: Martha Lagace

Web

Curriculum - Case Method Project

Jackson; Indian Removal; Trail of Tears Banking and Politics in Antebellum New York (1838) This case looks closely at state-level politics and the relationship between political parties and banking in early 19th century New York, including the formation of the View Details

12 Jul 2016
First Look

July 12, 2016

Case 816-005, "Bigbelly," by Mitchell Weiss and Christine Snively. This case is an example of public entrepreneurship. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=51306 Financial Regulation in a Quantitative Model of the View Details

Keywords: Sean Silverthorne

Web

Behavioral Finance & Financial Stability

Marco’s other research here , Dimuthu’s other research here , and Don’s other research here . More Info Stock Market Stimulus By: Robin Greenwood , Toomas Laarits & Jeffrey Wurgler MAR 2022 What is the role of fiscal stimulus in the stock... View Details

12 Apr 2022
Book

Racism, Colonialism, and Britain's Legacy of Violence

Britain’s 20th century empire was the largest in human history, with a quarter of the world’s land and nearly 700 million people. Yet the empire drew its strength from violence. That’s the conclusion Harvard Business School Professor Caroline Elkins draws in her new... View Details

Keywords: by Avery Forman

22 Feb 2018
Book

The New History of American Capitalism

which democracy and capitalism are embodied need to be reinvented again and again.” His contribution attends to the role of public debt, other financial investments, and the reach of empire as elements in the maldistribution of modern... View Details

Keywords: Manufacturing

Web

Mellon Hall | About

2000 to provide 72 single rooms with private baths and to meet modern accessibility requirements. During the project, which was led by Finegold Alexander & Associates architects, some of the 47,697-square-foot building’s original interior... View Details

Web

Research - Behavioral Finance & Financial Stability

Toomas Laarits & Jeffrey Wurgler MAR 2022 What is the role of fiscal stimulus in the stock market? The authors study the stock market effects of the arrival of the three rounds of “stimulus checks” to U.S. taxpayers and the single round... View Details

20 Dec 2010
Research & Ideas

Panama Canal: Troubled History, Astounding Turnaround

Panama Canal was the Battle of Guadalcanal and the United States had the initiative at Guadalcanal, and could therefore choose when it wanted to attack. Shutting down the Panama Canal for a year would have raised the fiscal cost of the... View Details

Keywords: by Sarah Jane Gilbert; Transportation

Publications