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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5940.
Date of creation: Nov 2006
Date of revision:
Contact details of provider:
Postal: Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ.
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
Find related papers by JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
This paper has been announced in the following NEP Reports:
You can help add them by filling out this form.
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.
- Peter Koudijs, 2013. "The boats that did not sail: Asset Price Volatility and Market Efficiency in a Natural Experiment," NBER Working Papers 18831, National Bureau of Economic Research, Inc.
- repec:cge:warwcg:132 is not listed on IDEAS
- 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 133, Competitive Advantage in the Global Economy (CAGE).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.