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Capital, Coercion, and Postcommunist States$
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Gerald M. Easter

Print publication date: 2012

Print ISBN-13: 9780801451195

Published to Cornell Scholarship Online: August 2016

DOI: 10.7591/cornell/9780801451195.001.0001

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Building Fiscal Capacity in Postcommunist States

Building Fiscal Capacity in Postcommunist States

Chapter:
(p.124) 5 Building Fiscal Capacity in Postcommunist States
Source:
Capital, Coercion, and Postcommunist States
Author(s):

Gerald M. Easter

Publisher:
Cornell University Press
DOI:10.7591/cornell/9780801451195.003.0006

This chapter compares the process of building fiscal capacity in postcommunist Poland and Russia using two test cases provided by international finance. The first is the financial run on emerging market economies that struck Eastern Europe in 1998; the second is the bubble burst on a series of speculative Wall Street investment ventures that occurred ten years later. The chapter begins with an overview of fiscal trends in 1990–1998 before turning to the impact of the financial crisis on Poland and Russia. It shows that Poland was able to strengthen its fiscal capacity in 1998 by expanding the revenue base, whereas the Russian state succumbed to fiscal collapse. In 2008, the fiscal capacity of the Polish state again proved resilient. Although the Russian economy was badly shaken by the crisis, state fiscal capacity was able to withstand financial collapse.

Keywords:   fiscal capacity, Poland, Russia, emerging market economies, Eastern Europe, financial crisis, revenue base

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