Download This PaperThe Capital Market Before 1600
Dartmouth College, Department of Economics Working Paper No. 99-06
27 Pages Posted: 9 Mar 1999
Date Written: February 1999
Abstract
This paper describes the evolution of long-term debt and equity finance in medieval and early modern Europe. The main issuers of long-term debt were landowners and municipalities. The paper discusses the evolution of debt secured by land and the use by municipal borrowers of annuities and "funded debt" (securitization). The paper then describes the various forms of equity finance and how they addressed the corporate governance problem.
JEL Classification: G3, H74, N23
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Bills of Exchange and the Money Market to 1600
By Meir Kohn
-
By Meir Kohn
-
Medieval and Early Modern Coinage and its Problems
By Meir Kohn
-
Finance Before the Industrial Revolution: An Introduction
By Meir Kohn
-
Risk Instruments in the Medieval and Early Modern Economy
By Meir Kohn
-
Merchant Banking in the Medieval and Early Modern Economy
By Meir Kohn
-
Payments and the Development of Finance in Pre-Industrial Europe
By Meir Kohn