IDEAS home Printed from https://ideas.repec.org/p/fip/fedhwp/wp-2018-05.html
   My bibliography  Save this paper

The Neapolitan Banks in the Context of Early Modern Public Banks

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://www.chicagofed.org/~/media/publications/working-papers/2018/wp2018-05-pdf.pdf
    File Function: Full text
    Download Restriction: no
    File URL: https://libkey.io/10.21033/wp-2018-05?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    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. François R. Velde, 2009. "Chronicle of a Deflation Unforetold," Journal of Political Economy, University of Chicago Press, vol. 117(4), pages 591-634, August.
    3. Rosalba Di Meglio, 2018. "Before the Public Banks: Innovation and Resilience by Charities in Fifteenth-Century Naples," Palgrave Studies in the History of Finance, in: Lilia Costabile & Larry Neal (ed.), Financial Innovation and Resilience, chapter 0, pages 55-70, Palgrave Macmillan.
    4. Lilia Costabile & Larry Neal (ed.), 2018. "Financial Innovation and Resilience," Palgrave Studies in the History of Finance, Palgrave Macmillan, number 978-3-319-90248-7, March.
    5. Francesco Balletta & Luigi Balletta & Eduardo Nappi, 2018. "The Investments of the Neapolitan Public Banks: A Long Run View (1587–1806)," Palgrave Studies in the History of Finance, in: Lilia Costabile & Larry Neal (ed.), Financial Innovation and Resilience, chapter 0, pages 95-123, Palgrave Macmillan.
    6. Stefano Ugolini, 2017. "The Evolution of Central Banking: Theory and History," Palgrave Studies in Economic History, Palgrave Macmillan, number 978-1-137-48525-0, December.
    7. Earl J. Hamilton, 1949. "Spanish Banking Schemes before 1700," Journal of Political Economy, University of Chicago Press, vol. 57(2), pages 134-134.
    8. Paola Avallone & Raffaella Salvemini, 2018. "Between Charity and Credit: The Evolution of the Neapolitan Banking System (Sixteenth–Seventeenth Century)," Palgrave Studies in the History of Finance, in: Lilia Costabile & Larry Neal (ed.), Financial Innovation and Resilience, chapter 0, pages 71-93, Palgrave Macmillan.
    9. Clemens Jobst, 2018. "The Institutional Foundations of Successful Public Borrowing—Models of Public Banks in Habsburg Austria and Habsburg Naples 1700–1800," Palgrave Studies in the History of Finance, in: Lilia Costabile & Larry Neal (ed.), Financial Innovation and Resilience, chapter 0, pages 243-268, Palgrave Macmillan.
    10. Malanima, Paolo, 2011. "The long decline of a leading economy: GDP in central and northern Italy, 1300–1913," European Review of Economic History, Cambridge University Press, vol. 15(2), pages 169-219, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Stefano Ugolini, 2018. "The Historical Evolution of Central Banking," Post-Print hal-01887004, HAL.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Adam Brzezinski & Nuno Palma & François R. Velde, 2024. "Understanding Money Using Historical Evidence," Annual Review of Economics, Annual Reviews, vol. 16(1), pages 571-595, August.
    2. Eric Monnet & Francois R. Velde, 2020. "Money, Banking, and Old-School Historical Economics," Working Paper Series WP-2020-28, Federal Reserve Bank of Chicago.
    3. Masciandaro, Donato & Goodhart, Charles & Ugolini, Stefano, 2021. "Pandemic recession and helicopter money: Venice, 1629–1631," Financial History Review, Cambridge University Press, vol. 28(3), pages 300-318, December.
    4. Accominotti, Olivier & Ugolini, Stefano, 2019. "International Trade Finance From the Origins to the Present: Market Structures, Regulation, and Governance," CEPR Discussion Papers 13661, C.E.P.R. Discussion Papers.
    5. Goodhart, C. A. E. & Masciandaro, Donato & Ugolini, Stefano, 2021. "Pandemic recession, helicopter money and central banking: Venice, 1630," LSE Research Online Documents on Economics 108555, London School of Economics and Political Science, LSE Library.
    6. Bignon, Vincent & Avaro, Maylis, 2019. "At Your Service! Liquidity Provision and Risk Management in 19th Century France," CEPR Discussion Papers 13556, C.E.P.R. Discussion Papers.
    7. Nuno Palma, 2019. "The Real Effects of Monetary Expansions: Evidence from a Large-Scale Historical Natural Experiment," Economics Discussion Paper Series 1904, Economics, The University of Manchester, revised Aug 2021.
    8. repec:fip:a00001:87606 is not listed on IDEAS
    9. António Henriques & Nuno Palma, 2023. "Correction to: Comparative european institutions and the little divergence, 1385–1800," Journal of Economic Growth, Springer, vol. 28(2), pages 295-295, June.
    10. Stephen Broadberry & Hanhui Guan, 2022. "Regional Variation of GDP per head within China, 1080-1850: Implications for the Great Divergence Debate," Oxford Economic and Social History Working Papers _196, University of Oxford, Department of Economics.
    11. Bassino, Jean-Pascal & Broadberry, Stephen & Fukao, Kyoji & Gupta, Bishnupriya & Takashima, Masanori, 2019. "Japan and the great divergence, 730–1874," Explorations in Economic History, Elsevier, vol. 72(C), pages 1-22.
    12. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    13. Deseau, Arnaud, 2024. "Speed of convergence in a Malthusian world: Weak or strong homeostasis?," Explorations in Economic History, Elsevier, vol. 94(C).
    14. Broadberry, Stephen & Ghosal, Sayantan & Proto, Eugenio, 2011. "Is Anonymity the Missing Link Between Commercial and Industrial Revolution?," The Warwick Economics Research Paper Series (TWERPS) 974, University of Warwick, Department of Economics.
    15. Emi Nakamura & Jón Steinsson, 2018. "Identification in Macroeconomics," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 59-86, Summer.
    16. Adam Brzezinski & Yao Chen & Nuno Palma & Felix Ward, 2024. "The Vagaries of the Sea: Evidence on the Real Effects of Money from Maritime Disasters in the Spanish Empire," The Review of Economics and Statistics, MIT Press, vol. 106(5), pages 1220-1235, September.
    17. Bindseil, Ulrich, 2021. "Lessons from early central banking for today," IBF Paper Series 01-21, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
    18. Vîntu, Denis, 2024. "Twin Deficits and Fiscal Spillovers in the European Periphery (Candidate Countries to EU Accession): A Keynesian Perspective," MPRA Paper 123504, University Library of Munich, Germany, revised Aug 2024.
    19. Thomas J. Sargent, 2015. "Robert E. Lucas Jr.'s Collected Papers on Monetary Theory," Journal of Economic Literature, American Economic Association, vol. 53(1), pages 43-64, March.
    20. Sissoko, Carolyn & Ishizu, Mina, 2021. "How the West India trade fostered last resort lending by the Bank of England," LSE Research Online Documents on Economics 108565, London School of Economics and Political Science, LSE Library.
    21. Joshua D. Angrist & Jörn-Steffen Pischke, 2010. "The Credibility Revolution in Empirical Economics: How Better Research Design Is Taking the Con out of Econometrics," Journal of Economic Perspectives, American Economic Association, vol. 24(2), pages 3-30, Spring.

    More about this item

    Keywords

    Central bank; public banks; Naples (Italy);
    All these keywords.

    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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedhwp:wp-2018-05. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lauren Wiese (email available below). General contact details of provider: https://edirc.repec.org/data/frbchus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.