The Structure and Efficiency of the Public Debt Administration of the Papal States (16th-17th Centuries)

Abstract

Introduction: The focus of this work is on the public debt administration of the Papal States in 16th and 17th centuries. Aim of the work: The paper intends to demonstrate how the high level of efficiency achieved has contributed to obtaining a good consideration of the securities on the market. Methodological approach: The paper is based upon the investigation of primary and secondary sources related to the public debt administration of the Papal States in 16th and 17th centuries. An interpretative approach has been adopted in exploring the structure and efficiency of this administra-tive area. Main findings: The work offers an understanding of the role of the account-ing tools within the organization employed to manage the daily practices and the legislation enacted. The efficiency of the administration and the ability to manage the accounts regularly and to respond promptly to inves-tors requests has been proved decisive for the securities listing. Originality: The paper permits to enlarge the knowledge on public debt ad-ministration in the Papal State context.