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Money, states and empire: financial integration cycles and institutional change in Central Europe, 1400-1520

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  • Chilosi, David
  • Volckart, Oliver

Abstract

By analysing a newly compiled database of exchange rates, this paper finds that Central European financial integration advanced in a cyclical fashion over the fifteenth century. The cycles were associated with changes in the money supply. Long-distance financial integration progressed in connection with the rise of the territorial state, facilitated by the synergy between princes and emperor.

Suggested Citation

  • Chilosi, David & Volckart, Oliver, 2009. "Money, states and empire: financial integration cycles and institutional change in Central Europe, 1400-1520," Economic History Working Papers 27884, London School of Economics and Political Science, Department of Economic History.
    • Handle: RePEc:ehl:wpaper:27884
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    File URL: http://eprints.lse.ac.uk/27884/
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    Cited by:

    1. Börner, Lars & Severgnini, Battista, 2011. "Epidemic trade," Discussion Papers 2011/12, Free University Berlin, School of Business & Economics.
    2. Boerner, Lars & Volckart, Oliver, 2011. "The utility of a common coinage: Currency unions and the integration of money markets in late Medieval Central Europe," Explorations in Economic History, Elsevier, vol. 48(1), pages 53-65, January.
    3. Chilosi, David & Volckart, Oliver, 2010. "Books or bullion? Printing, mining and financial integration in Central Europe from the 1460s," Economic History Working Papers 28986, London School of Economics and Political Science, Department of Economic History.
    4. Badalian, Lucy & Krivorotov, Victor, 2010. "The amazing synchronicity of the Global Development (the 1300s-1450s). An institutional approach to the globalization of the late Middle Ages," Economic History Working Papers 27906, London School of Economics and Political Science, Department of Economic History.
    5. Chilosi, David & Volckart, Oliver, 2010. "Good or bad money?: debasement, society and the state in the late Middle Ages," Economic History Working Papers 27946, London School of Economics and Political Science, Department of Economic History.

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    More about this item

    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N43 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: Pre-1913

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