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The Development of Intermediation in French Credit Markets: Evidence from the Estates of Burgundy

Potter, Mark and Rosenthal, Jean-Laurent (2002) The Development of Intermediation in French Credit Markets: Evidence from the Estates of Burgundy. Journal of Economic History, 62 (4). pp. 1024-1049. ISSN 0022-0507. https://resolver.caltech.edu/CaltechAUTHORS:20160308-132937651

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Abstract

We document how intermediaries shaped markets or, conversely, how market institutions constrained intermediaries. In Dijon, where the Estates of Burgundy's debt amounted to nearly half of all bonds in that small market, there was limited need for intermediaries. In the 1740s the borrowing needs of the province expanded, and the estates began to borrow in Paris, where their debt remained a small fraction of the market, and where they relied on notaries to place their bonds and to create a secondary market. These developments assured the estates' capacity to borrow and thus Burgundian autonomy from the French Crown.


Item Type:Article
Related URLs:
URLURL TypeDescription
http://dx.doi.org/10.1017/S0022050702001638DOIArticle
http://journals.cambridge.org/action/displayFulltext?type=1&fid=137630&jid=JEH&volumeId=62&issueId=04&aid=137629PublisherArticle
http://www.jstor.org/stable/3132400JSTORArticle
Additional Information:© 2002 Economic History Association. The authors would like to thank Stephen Haber, Thomas Hubbard, Naomi Lamoreaux, and Philip Leslie for comments on a previous draft. Rosenthal gratefully acknowledges the support provided by grants from the National Science Foundation (SES 9022192) and the RBSL Bergman Foundation.
Funders:
Funding AgencyGrant Number
NSFSES 9022192
RBSL Bergman FoundationUNSPECIFIED
Issue or Number:4
Record Number:CaltechAUTHORS:20160308-132937651
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20160308-132937651
Official Citation:Potter, Mark, and Jean-Laurent Rosenthal. 2002. “The Development of Intermediation in French Credit Markets: Evidence from the Estates of Burgundy”. The Journal of Economic History 62 (4). Cambridge University Press: 1024–49. http://www.jstor.org/stable/3132400.
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:65206
Collection:CaltechAUTHORS
Deposited By: Susan Vite
Deposited On:14 Mar 2016 21:20
Last Modified:03 Oct 2019 09:45

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