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The Neapolitan Banks in the Context of Early Modern Public Banks

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  • Francois R. Velde

Abstract

I examine the Neapolitan public banks, a group of non-profit institutions that emerged in the late sixteenth century, in the context of the early public banks that existed elsewhere in early modern Europe. In terms of size and stability they compare well with their peers, in spite of a difficult political and economic environment. They were also remarkably financially advanced for their time. Their success is likely due to their ownership structure, governance, and well managed relationship with the monarchical authorities.

Suggested Citation

  • Francois R. Velde, 2018. "The Neapolitan Banks in the Context of Early Modern Public Banks," Working Paper Series WP-2018-5, Federal Reserve Bank of Chicago.
    • Handle: RePEc:fip:fedhwp:wp-2018-05
    DOI: 10.21033/wp-2018-05
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    File URL: https://www.chicagofed.org/~/media/publications/working-papers/2018/wp2018-05-pdf.pdf
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    References listed on IDEAS

    as
    1. Stephen Quinn & William Roberds, 2015. "Responding to a Shadow Banking Crisis: The Lessons of 1763," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(6), pages 1149-1176, September.
    2. Earl J. Hamilton, 1949. "Spanish Banking Schemes before 1700," Journal of Political Economy, University of Chicago Press, vol. 57, pages 134-134.
    3. François R. Velde, 2009. "Chronicle of a Deflation Unforetold," Journal of Political Economy, University of Chicago Press, vol. 117(4), pages 591-634, August.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Central bank; public banks; Naples (Italy);

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913

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