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How States Pay for Wars$
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Rosella Capella Zielinski

Print publication date: 2016

Print ISBN-13: 9781501702495

Published to Cornell Scholarship Online: January 2017

DOI: 10.7591/cornell/9781501702495.001.0001

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Taxation and Currency Reserves During the Russo-Japanese War

Taxation and Currency Reserves During the Russo-Japanese War

(p.86) 5 Taxation and Currency Reserves During the Russo-Japanese War
How States Pay for Wars

Rosella Cappella Zielinski

Cornell University Press

This chapter continues to explore external war finance while also emphasizing the capacity to extract revenue, this time by comparing Japanese and Russian war finance policies. The Japanese government enhanced their extractive capacity with the introduction of the yen and created an effective revenue administration. Russia, on the other hand, lacked these institutions, and had to turn to other sources of revenue. From here the chapter demonstrates that when a state has low bureaucratic capacity, direct resource extraction will comprise a low percentage of its war finance strategy. Low extractive capacity, however, does not result in capitulation. Given that the state continues the war, one should expect to see a war finance strategy that reflects higher levels of indirect and external resource extraction.

Keywords:   Russo-Japanese War, Japanese war finance, Russian war finance, revenue administration, yen, war finance strategy, resource extraction

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