Merchant Banking in the Medieval and Early Modern Economy
Dartmouth College, Department of Economics Working Paper No. 99-05
26 Pages Posted: 9 Mar 1999
Date Written: February 1999
This paper describes the evolution of merchant banks--merchants who specialized in remittance and credit. It examines the sources of their funds and the use to which they put them in exchange trading, commercial credit, and sovereign lending. It discusses the methods the banks used to manage liquidity and risk and the crises that resulted from sovereign defaults.
JEL Classification: F31, F34, G15, N23
Suggested Citation: Suggested Citation