| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13920 |
| DP13920 The Financial Development of London in the 17th Century Revisited: A View from the Accounts of the Corporation of London | |
| Nathan Sussman | |
| 发表日期 | 2019-08-08 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | A novel, annual series of interest rates paid by the Corporation of London extracted from archival sources shows that interest rates in London declined by 350 basis points over the 17th century. Most of the decline followed a similar pattern in Amsterdam. Records extracted from the Corporation's archive provide evidence for financial deepening: an increase in the number and volume of debt instruments, an increase in the number of people holding them, and development of a secondary market. Econometric analysis establishes that financial deepening contributed to the convergence of interest rates between London and Amsterdam. England's financial evolution and path towards modern growth date, therefore, to the 17th century. |
| 主题 | Economic History |
| 关键词 | Interest rate Financial development Financial intermediation Growth England |
| URL | https://cepr.org/publications/dp13920-2 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542801 |
| 推荐引用方式 GB/T 7714 | Nathan Sussman. DP13920 The Financial Development of London in the 17th Century Revisited: A View from the Accounts of the Corporation of London. 2019. |
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