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The Purse Strings of Peace

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  • Patrick J. McDonald

Abstract

This article examines how commerce promotes peace between states. It diverges from the commercial peace literature and its predominant focus on international trade by looking inside the domestic economy to see how its structure influences conflict. Drawing on selectorate theory, I argue that substantial quantities of public property generate fiscal autonomy for governments, strengthen their hold on the domestic reigns of power, and create opportunities to pursue more aggressive foreign policies. A series of statistical tests shows that greater quantities of publicly held assets increase the likelihood that a state will participate in military conflict. Given that the predominance of privately held property is one of the defining institutions of capitalism, these results support the claim that capitalism promotes peace.

Suggested Citation

  • Patrick J. McDonald, 2007. "The Purse Strings of Peace," American Journal of Political Science, John Wiley & Sons, vol. 51(3), pages 569-582, July.
    • Handle: RePEc:wly:amposc:v:51:y:2007:i:3:p:569-582
    DOI: 10.1111/j.1540-5907.2007.00268.x
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    References listed on IDEAS

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    1. Waterbury,John, 1993. "Exposed to Innumerable Delusions," Cambridge Books, Cambridge University Press, number 9780521434973.
    2. Waterbury,John, 1993. "Exposed to Innumerable Delusions," Cambridge Books, Cambridge University Press, number 9780521435499.
    3. Kornai, Janos, 1992. "The Socialist System: The Political Economy of Communism," OUP Catalogue, Oxford University Press, number 9780198287766.
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    Cited by:

    1. Strüver, Georg & Wegenast, Tim, 2011. "Ex oleo bellare? The Impact of Oil on the Outbreak of Militarized Interstate Disputes," GIGA Working Papers 162, GIGA German Institute of Global and Area Studies.
    2. Kahn Yehudith & Arieli Tamar, 2020. "Post Conflict Normalization through Trade Preferential Agreements: Egypt, Israel and the Qualified Industrial Zones," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 26(4), pages 1-27, December.
    3. Andrew Stravers, 2021. "Pork, parties, and priorities: Partisan politics and overseas military deployments," Conflict Management and Peace Science, Peace Science Society (International), vol. 38(2), pages 156-177, March.
    4. Hailay Gebretinsae Beyene, 2015. "Does International Trade Reduce Political Disputes?," Foreign Trade Review, , vol. 50(2), pages 99-117, May.
    5. Michael Mousseau, 2010. "Coming to Terms with the Capitalist Peace," International Interactions, Taylor & Francis Journals, vol. 36(2), pages 185-192, May.
    6. Strüver, Georg, 2010. "Too Many Resources or Too Few? What Drives International Conflicts?," GIGA Working Papers 147, GIGA German Institute of Global and Area Studies.
    7. Michael Mousseau, 2012. "The Democratic Peace Unraveled: It’s the Economy," Koç University-TUSIAD Economic Research Forum Working Papers 1207, Koc University-TUSIAD Economic Research Forum.
    8. Sally Anderson & Mark Souva, 2010. "The Accountability Effects of Political Institutions and Capitalism on Interstate Conflict," Journal of Conflict Resolution, Peace Science Society (International), vol. 54(4), pages 543-565, August.

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