The Bell Jar: Commercial Interest Rates between Two Revolutions, 1688-1789
AbstractThis paper exploits arbitrage conditions for bills of exchange with different maturities to provide new evidence on commercial interest rates in Amsterdam, London, and Paris during the 18th century. The lesson that emerges is that commercial interest rates were very low in all three centers and did not differ much from one location to another. This suggests that a transnational capital market resulting from the Commercial Revolution pre-dated to the British 'Financial Revolution' of the 18th century.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5940.
Date of creation: Nov 2006
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Find related papers by JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Flandreau M. et al. (2009) The question was not how to develop finance
by Ben in Economic History Blog on 2009-08-30 09:36:00
- Flandreau, Marc & Galimard, Christophe & Jobst, Clemens & Nogués Marco, Pilar, 2009.
"Monetary Geography Before the Industrial Revolution,"
CEPR Discussion Papers
7169, C.E.P.R. Discussion Papers.
- Marc Flandreau & Christophe Galimard & Clemens Jobst & Pilar Nogués-Marco, 2009. "Monetary geography before the Industrial Revolution," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 2(2), pages 149-171.
- Pablo Martín-Aceña & Pilar Nogues-Marco, 2012. "Crisis bancarias en la historia de España. Del Antiguo Régimen a los orígenes del capitalismo moderno," Documentos de Trabajo (DT-AEHE) 1201, Asociación Española de Historia Económica.
- Mitchener, Kris James & Weidenmier, Marc D, 2013. "Searching for Irving Fisher," CAGE Online Working Paper Series 132, Competitive Advantage in the Global Economy (CAGE).
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