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Government debts and credit markets in Renaissance Italy

Author

Listed:
  • Luciano Pezzolo

    () (Department of Economics, University Of Venice Ca� Foscari)

Abstract

At first sight a marked difference turns out among the Italian governments of early Renaissance: the means of financing their deficit. There are, on the one hand, communal cities and republics, raising money from citizens through the system of forced or voluntary loans; there are, on the other, princes and lords who exploit services of bankers and merchants. These two different systems of borrowing bring about significant financial and political aspects. In this paper I will examine the main features characterizing the two mechanisms of indebtedness and the implications concerning the emergence of a true financial market connected with state bonds.

Suggested Citation

  • Luciano Pezzolo, 2007. " Government debts and credit markets in Renaissance Italy," Working Papers 2007_05, Department of Economics, University of Venice "Ca' Foscari".
  • Handle: RePEc:ven:wpaper:2007_05
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    File Function: First version, 2007
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    More about this item

    Keywords

    Public debts; Renaissance Italy; financial markets; financial institutions;

    JEL classification:

    • N2 - Economic History - - Financial Markets and Institutions
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913

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