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The Neapolitan Banks in the Context of Early Modern Public Banks


  • Francois R. Velde


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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    References listed on IDEAS

    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.
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    Cited by:

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

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    More about this item


    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

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