Chilosi, David, Schulze, Max-Stephan and Volckart, Oliver (2016) Benefits of empire? Capital market integration north and south of the Alps, 1350-1800. Economic History working papers, 236/2016. The London School of Economics and Political Science, London, UK.
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Abstract
This paper addresses two questions. First, when and to what extent did capital markets integrate north and south of the Alps? Second, how mobile was capital? Analysing a unique new dataset on pre-modern urban annuities, we find that northern markets were consistently better integrated than Italian markets. Long-term integration was driven by initially peripheral places in the Netherlands and Upper Germany integrating with the rest of the Holy Roman Empire where the distance and volume of inter-urban investments grew primarily in the sixteenth century. The institutions of the Empire contributed to stronger market integration north of the Alps.
| Item Type: | Monograph (Working Paper) |
|---|---|
| Official URL: | http://www.lse.ac.uk/economicHistory/home.aspx |
| Additional Information: | © 2016 The Authors |
| Library of Congress subject classification: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HG Finance |
| Journal of Economic Literature Classification System: | N - Economic History > N2 - Financial Markets and Institutions > N23 - Europe: Pre-1913 N - Economic History > N9 - Regional and Urban History > N93 - Europe: Pre-1913 |
| Sets: | Departments > Economic History Collections > Economists Online |
| Identification Number: | 236/2016 |
| Funders: | Leverhulme Trust |
| Projects: | RPG-133 |
| Date Deposited: | 12 Feb 2016 15:45 |
| URL: | http://eprints.lse.ac.uk/65346/ |
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