This book explores the evolution of credit and financing in Europe from the Middle Ages through to Modern Times. It engages with the distinct political, economic and institutional frameworks of the examined areas (England, Italy, France, Germany, Spain, the Netherlands and Turkey) and discusses how these affected the credit market. It covers a wide range of different types of lending and borrowing instruments, the destination of capital, the way it was raised, and the impact it had on local or national economies in a very long run.
Presented in two parts, part one of the book focuses on credit markets in the preindustrial age, in particular the period before the advent of modern joint stock banks. Part two examines the evolution of credit at the time of the emergence of modern banks. This volume will be of interest to academics and researchers in the field of finance who are interested in the historic evolution of credit and the credit market.
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Chapter 1: Introduction.- Part I Informal, Non-institutional and Professional Credit in Preindustrial Europe.- Chapter 2: The Rise of London as a Financial Capital in Late Medieval England.- Chapter 3: When Things Go Wrong: Credit, Defaults and Institutions in Early Modern Venice.- Chapter 4: Financing Trade Through Limited Partnerships: Evidence from Silk Firms in Eighteenth-Century Trentino.- Chapter 5: Borrowing and Lending Money in Alpine Areas During the Eighteenth Century: Trento and Rovereto Compared.- Chapter 6: The Social Acceptance of Paper Credit as Currency in Eighteenth-Century England: A Case Study of Glastonbury c. 1720–1742.- Chapter 7: Public Functions, Private Markets: Credit Registration by Aldermen and Notaries in the Low Countries, 1500–1800.- Chapter 8: Notaries and Domestic Lending in Wartime (Seventeenth- and Eighteenth-Century France).- Chapter 9: Private Credit in Spain During the Late Eighteenth and the Early Nineteenth Centuries: Institutions, Crisis and War.- Part II Credit in the Time of the Emergence of Modern Banking.- Chapter 10: Microcredit in the Ottoman Empire: A Review of Cash Waqfs in Transition to Modern Banking.- Chapter 11 Challenging the Institutional Revolution of Credit Markets in the Nineteenth Century.- Chapter 12: Relationship-Based Finance in Changing European Banking Scenarios: The Case of Parent Schaken et Compagnie (1835–66).- Chapter 13: Formalising Credit Markets? The Entrance of English Joint-Stock Banks.- Chapter 14: Towards the Institutionalisation of Credit.
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Marcella Lorenzini is a Post-doc Researcher at the University of Trento, Italy. Her work researches how credit markets develop in the absence of formal institutions. Her recent publications include one monograph and a chapter in a collected volume on Infrastructure Financing in the Early Modern Age.
Cinzia Lorandini is an Associate Professor in Economic History at the University of Trento, Italy. Her research mainly focuses on credit markets and trade in the early modern and modern period. She has authored several publications on these topics, including two monographs and one article for the journal Business History.
D’Maris Coffman is a Senior Lecturer (Associate Professor) in Economics and Finance of the Built Environment at UCL Bartlett, UK and Director of the Bartlett School of Construction and Project Management. Prior to this D’Maris was a Leverhulme/Newton Trust Early Career Fellow at the History Faculty of the University of Cambridge, UK, and Fellow and Director of the Centre of Financial History at Newnham College, UK. She works on the relationship between public finance and private capital markets in eighteenth- and nineteenth-century Europe and sits on the Council of the Economic History Society.