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Tweaking financial instruments: bills obligatory in sixteenth-century Antwerp

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  • Puttevils, Jeroen

Abstract

This article discusses the use of private promissory notes in the sixteenth-century commercial metropolis of Antwerp. Students of financial history tend to look for first instances of financial techniques and institutions such as bills of exchange, share trading, sovereign debt and banks. However, financial innovation can also be found in the piecemeal adaptation of an older, existing technique, institution or instrument as the result of changes in the market and of demands exerted by particular groups within that economy. The outcome of this process is determined by the structure of the economy in question, its institutional arrangements and the willingness of authorities to adapt the rules.

Suggested Citation

  • Puttevils, Jeroen, 2015. "Tweaking financial instruments: bills obligatory in sixteenth-century Antwerp," Financial History Review, Cambridge University Press, vol. 22(3), pages 337-361, December.
  • Handle: RePEc:cup:fihrev:v:22:y:2015:i:03:p:337-361_00
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    Cited by:

    1. Nogues-Marco, Pilar, 2017. "Money Markets and Exchange Rates in Pre-Industrial Europe," Working Papers unige:100808, University of Geneva, Paul Bairoch Institute of Economic History.
    2. Matringe, Nadia, 2017. "Le dépôt en foire au début de l’époque moderne: transfert de crédit et financement du commerce," LSE Research Online Documents on Economics 69189, London School of Economics and Political Science, LSE Library.
    3. Jim Bolton & Francesco Guidi‐Bruscoli, 2021. "‘Your flexible friend’: the bill of exchange in theory and practice in the fifteenth century," Economic History Review, Economic History Society, vol. 74(4), pages 873-891, November.

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