Benefits of Empire? Capital Market Integration North and South of the Alps, 1350-1800Chilosi, D., Schulze, M. & Volckart, O., Sep-2018, In : Journal of Economic History. 78, 3, p. 637-672 36 p.
Research output: Contribution to journal › Article › Academic › peer-review
This article 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.
|Number of pages||36|
|Journal||Journal of Economic History|
|Publication status||Published - Sep-2018|
- FINANCIAL REVOLUTION, EUROPE, 17TH-CENTURY, 18TH-CENTURY, PRICES, TRADE