Author:
GELDERBLOM OSCAR,JONKER JOOST
Abstract
The article analyzes the evolution of the Amsterdam capital market as a consequence of Dutch overseas expansion and the introduction of transferable VOC shares. Offering investors prospects of speculative gains without serious loss of liquidity, these instruments created a booming secondary market offering a wide range of allied credit techniques. By 1609 this market had become sufficiently strong to dictate terms for new public debt issues. These findings show that, contrary to commonly held notions about the emergence of secondary markets, private finance took precedence over public finance in the Dutch Republic.
Publisher
Cambridge University Press (CUP)
Subject
Economics, Econometrics and Finance (miscellaneous),Economics and Econometrics,History
Reference84 articles.
1. Dam Pieter van .1927 Beschryvinge van de Oostindische Compagnie (1701),edited by F. W. Stapel .The Hague:Nijhoff,
2. Schnapper B. 1957 Les rentes au XVIe siecle, histoire d'un instrument de credit.Paris:S.E.V.P.E.N.,
3. Houtzager D. 1950 Hollands lijf- en losrenteleningen vóór 1672.Schiedam:HAV Bank,
4. Smith M. F. J. 1919 Tijd-affaires in effecten aan de Amsterdamsche beurs.The Hague:Nijhoff,
5. Dickson P. G. M. 1967 The Financial Revolution in England, a Study in the Development of Public Credit 1688–1756.Oxford:Oxford University Press,
Cited by
109 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献