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Antwerp: The First Global Trade Capital (16th Century)

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  • Mehmet Baha Karan

    (Hacettepe University)

Abstract

Antwerp became the most important business center in Europe in the sixteenth century because of its strategic location, the presence of helpful institutions, and its multicultural nature. The city's legal system combined local customs with well-known laws for international trade to keep the market secure and active. The exchange has been around since 1531 and has drawn traders from all around the world. It facilitates the exchange of money, goods, and financial products. Antwerp has long been a significant hub for banking and financial innovation. This is mainly because major Italian banks offered services like letters of credit and bills of exchange. These services facilitated trade across great distances, contributing to the region's economic growth. The city's wealth was a significant factor in the growth of Protestantism, which in turn led to improvements in education and culture, especially in the area of book creation. However, the city's collapse in 1585 and the Spanish Fury in 1576 hurt the economy. The arrival of professional merchants and artists in Amsterdam changed the way trade worked in Europe in a big way. This event signaled the start of the Dutch Golden Age.

Suggested Citation

  • Mehmet Baha Karan, 2025. "Antwerp: The First Global Trade Capital (16th Century)," Contributions to Economics,, Springer.
    • Handle: RePEc:spr:conchp:978-3-032-07788-2_4
    DOI: 10.1007/978-3-032-07788-2_4
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