Lorenzini / Lorandini / Coffman Financing in Europe

Evolution, Coexistence and Complementarity of Lending Practices from the Middle Ages to Modern Times
1. Auflage 2018
ISBN: 978-3-319-58493-5
Verlag: Springer International Publishing
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 419 Seiten

Reihe: Progress in Mathematics

This book explores the evolution of credit and financing in Europe from the Middle Ages through to Modern Times. It engages with the distinct  political, economic and institutional frameworks of the examined areas (England, Italy, France, Germany, Spain, the Netherlands and Turkey) and discusses how these affected the credit market. It covers a wide range of different types of lending and borrowing instruments, the destination of capital, the way it was raised, and the impact it had on local or national economies in a very long run.Presented in two parts, part one of the book focuses on credit markets in the preindustrial age, in particular the period before the advent of modern joint stock banks. Part two examines the evolution of credit at the time of the emergence of modern banks. This volume will be of interest to academics and researchers in the field of finance who are interested in the historic evolution of credit and the credit market. 

Marcella Lorenzini is a Post-doc Researcher at the University of Trento, Italy. Her work researches how credit markets develop in the absence of formal institutions. Her recent publications include one monograph and a chapter in a collected volume on Infrastructure Financing in the Early Modern Age.Cinzia Lorandini is an Associate Professor in Economic History at the University of Trento, Italy. Her research mainly focuses on credit markets and trade in the early modern and modern period. She has authored several publications on these topics, including two monographs and one article for the journal Business History.D'Maris Coffman is a Senior Lecturer (Associate Professor) in Economics and Finance of the Built Environment at UCL Bartlett, UK and Director of the Bartlett School of Construction and Project Management. Prior to this D'Maris was a Leverhulme/Newton Trust Early Career Fellow at the History Faculty of the University of Cambridge, UK, and Fellow and Director of the Centre of Financial History at Newnham College, UK. She works on the relationship between public finance and private capital markets in eighteenth- and nineteenth-century Europe and sits on the Council of the Economic History Society.

Autoren/Hrsg.

Lorenzini, Marcella

Lorandini, Cinzia

Coffman, D'Maris

Inhaltsverzeichnis

1;Contents;8
2;Contributors;11
3;List of Figures;15
4;List of Tables;18
5;Introduction;21
5.1;Formal and Informal Credit Across Europe: A Long-Run Perspective;21
5.2;References;37
6;Part I: Informal, Non-institutional and Professional Credit in Preindustrial Europe;39
6.1;The Rise of London as a Financial Capital in Late Medieval England;40
6.1.1;The Statute Merchant and Staple Certificates of Debt;43
6.1.2;London’s Financial Status in 1290–99;45
6.1.3;Alien Merchants and London’s Credit;46
6.1.4;The Crown’s Influence on London’s Credit;48
6.1.5;The City and the Cloth Trade;53
6.1.6;Falling Coin and Coin;54
6.1.7;Conclusions;58
6.1.8;References;63
6.2;When Things Go Wrong: Credit, Defaults and Institutions in Early Modern Venice;65
6.2.1;The Framework of Early Modern Venetian Trade;66
6.2.2;Financing Companies and Business in Early Modern Venice;73
6.2.3;Coping with Conflicts. The Protection of Credit Rights;82
6.2.4;A Tentative Conclusion;85
6.2.5;List of Abbreviations for Archival Sources;87
6.2.6;References;88
6.3;Financing Trade Through Limited Partnerships: Evidence from Silk Firms in Eighteenth-Century Trentino;93
6.3.1;Introduction;93
6.3.2;The Limited Partnership in Early Modern Europe;96
6.3.3;The Case of Silk Merchants in Trentino: Sources and Method;100
6.3.4;Single Traders and Family Firms;103
6.3.5;Detecting Limited Partnerships;109
6.3.5.1;Direct Evidence from Partnership Agreements;109
6.3.5.2;Indirect Evidence from the ‘Oblatorie’;113
6.3.6;Concluding Remarks;117
6.3.7;Abbreviations for Archival Sources;119
6.3.8;References;121
6.4;Borrowing and Lending Money in Alpine Areas During the Eighteenth Century: Trento and Rovereto Compared;124
6.4.1;Introduction;124
6.4.2;The Notaries as Credit Intermediaries;128
6.4.3;Credit Instruments;130
6.4.4;Risk Mitigation;132
6.4.5;Loan Sizes and the Purpose of Debt;134
6.4.6;Interest Rates;138
6.4.7;Borrowers and Lenders;138
6.4.8;Concluding Remarks;140
6.4.9;Archival References;141
6.4.10;Trento;141
6.4.11;Rovereto;142
6.4.12;References;148
6.5;The Social Acceptance of Paper Credit as Currency in Eighteenth-Century England: A Case Study of Glastonbury c. 1720–1742;152
6.5.1;References;176
6.6;Public Functions, Private Markets: Credit Registration by Aldermen and Notaries in the Low Countries, 1500–1800;179
6.6.1;Introduction;179
6.6.2;Registering Private Debt;182
6.6.3;Transaction Patterns;188
6.6.4;The Functions of Aldermen and Notaries;195
6.6.5;Risk Pricing;201
6.6.6;Conclusion;205
6.6.7;References;208
6.7;Notaries and Domestic Lending in Wartime (Seventeenth- and Eighteenth-Century France);211
6.7.1;Borrowing in Critical Times: The War Against Spain (1648–1659);212
6.7.2;Promissory Notes and Reconstitutions During the Seven Years’ War (1756–1763);214
6.7.3;Forced Loans and Liquidity Insurance: A Combination for Channelling Funds;215
6.7.4;The Other Side of Notaries’ Activities: The Use of Deposits;217
6.7.5;References;222
6.8;Private Credit in Spain During the Late Eighteenth and the Early Nineteenth Centuries: Institutions, Crisis and War;223
6.8.1;Introduction;223
6.8.2;Institutional Framework: Problems and Imbalances;226
6.8.3;Private Credit in Valladolid;230
6.8.3.1;The Urgent Need for Credit: Short-Term Credit;232
6.8.3.2;Concentration and Stagnation: Long-Term Credit;238
6.8.3.3;Credit Dynamics During the War;241
6.8.4;Conclusions;247
6.8.5;References;249
6.8.5.1;Sources;251
6.8.5.2;Archivo de la Real Chancillería de Valladolid (ARChV): Section Pleitos Civiles;252
6.8.5.3;Legal Codes;252
7;Part II: Credit in the Time of the Emergence of Modern Banking;253
7.1;Microcredit in the Ottoman Empire: A Review of Cash Waqfs in Transition to Modern Banking;254
7.1.1;Introduction;254
7.1.2;Cash Waqfs: Legal and Administrative Characteristics;256
7.1.3;Cash Waqfs During the Nineteenth Century: An Overview of Endowment Deeds;262
7.1.4;Cash Waqfs and Modern Banking;271
7.1.5;Conclusion;278
7.1.6;References;280
7.1.6.1;Archival Sources;280
7.1.6.2;Secondary Sources;280
7.2;Challenging the Institutional Revolution of Credit Markets in the Nineteenth Century;284
7.2.1;State of Research;284
7.2.2;Research Design;286
7.2.3;General Conditions;288
7.2.4;Non-corporate Versus Institutional;294
7.2.5;Hybrid Forms;298
7.2.6;Conclusion;299
7.2.7;References;301
7.2.7.1;Manuscript Sources;301
7.2.7.2;Landesarchiv des Saarlandes Saarbrücken LAS;301
7.2.7.3;Archives Départementales de la Moselle Metz AD57;302
7.2.7.4;Werksarchiv Villeroy & Boch Mettlach Werksarchiv V&B;302
7.2.7.5;Secondary Sources;302
7.3;Relationship-Based Finance in Changing European Banking Scenarios: The Case of Parent Schaken et Compagnie (1835–66);306
7.3.1;Introduction;306
7.3.2;Sources and Methodology;309
7.3.3;Parent Schaken et Compagnie;311
7.3.4;Railway Works and Small Bankers (1835–50);313
7.3.5;Business Diversification and Big Railway Companies (1851–58);316
7.3.6;Global Business and Big Banks (1859–66);320
7.3.7;Concluding Remarks;326
7.3.8;References;330
7.3.8.1;Archives;330
7.3.8.2;Printed Sources;330
7.4;Formalising Credit Markets? The Entrance of English Joint-Stock Banks;334
7.4.1;Introduction;334
7.4.2;Organisational Form;336
7.4.3;Ownership;338
7.4.4;Decision-Making Process;340
7.4.5;Lending Activity;346
7.4.6;Assessing Creditworthiness;350
7.4.7;Conclusion;354
7.4.8;References;357
7.4.8.1;Bank Archives;357
7.4.8.2;Printed Sources;357
7.5;Towards the Institutionalisation of Credit;361
7.5.1;References;365
8;Erratum;368
9;Index;369