Banking Crises and the Modern Tax State

Limberg, Julian

doi:10.1093/ser/mwz055

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Banking Crises and the Modern Tax State

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Limberg, Julian
Projekte von Gastwissenschaftlern und Postdoc-Stipendiaten, MPI for the Study of Societies, Max Planck Society;
Department of Political Economy, King’s College London, London, UK;

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https://doi.org/10.1093/ser/mwz055
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Citation

Limberg, J. (2020). Banking Crises and the Modern Tax State. Socio-Economic Review, (published online January 14). doi:10.1093/ser/mwz055.

Cite as: https://hdl.handle.net/21.11116/0000-0005-9A3E-9

Abstract

Have banking crises boosted path-breaking fiscal innovations? Drawing on the literature that deals with the impact of warfare on fiscal capacity, I argue that banking crises have facilitated the rise of progressive tax instruments by causing revenue needs and demands for fiscal fairness. I test this argument by means of event history analyses and new worldwide data on the introduction of the two main pillars of the modern tax state: the personal income tax (PIT) and the general sales tax (GST). Furthermore, I examine the adoption of PIT in the USA and Argentina. The findings stress the importance of financial and economic crises for fiscal institutions and call for a closer investigation of how non-bellicist shocks have shaped the modern state.