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Government debts and credit markets in Renaissance Italy

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  • Luciano Pezzolo

    ()
    (Department of Economics, University Of Venice Ca’ Foscari)

Abstract

At first sight a marked difference turns out among the Italian governments of early Renaissance: the means of financing their deficit. There are, on the one hand, communal cities and republics, raising money from citizens through the system of forced or voluntary loans; there are, on the other, princes and lords who exploit services of bankers and merchants. These two different systems of borrowing bring about significant financial and political aspects. In this paper I will examine the main features characterizing the two mechanisms of indebtedness and the implications concerning the emergence of a true financial market connected with state bonds.

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File URL: http://www.unive.it/media/allegato/DIP/Economia/Working_papers/Working_papers_2007/WP_DSE_Pezzolo_05_07.pdf
File Function: First version, 2007
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Bibliographic Info

Paper provided by Department of Economics, University of Venice "Ca' Foscari" in its series Working Papers with number 2007_05.

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Length: 22
Date of creation: 2007
Date of revision:
Handle: RePEc:ven:wpaper:2007_05

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Keywords: Public debts; Renaissance Italy; financial markets; financial institutions;

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