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Published June 1995 | Published
Journal Article Open

Redistribution and Long-Term Private Debt in Paris


Based on a large sample from Parisian notarial records, this article examines the long-term private credit market in Paris in the late seventeenth and early eighteenth centuries and analyzes how it was affected by government-caused redistribution. It estimates the level of private indebtedness from 1662 to 1789, explains the problems the credit market faced, and determines who profited and who lost when government defaults, banking reforms, and currency manipulations struck private borrowers and lenders. It concludes by accounting for the expansion of the credit market in the last half of the eighteenth century.

Additional Information

© 1995 Economic History Association. The authors wish to thank David Weir and Joel Mokyr for their comments, and Rosenthal gratefully acknowledges the support by a grant from the Boarchard Foundation and by NSF grants SBR 9258498 and SES 9022192.

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