EUR.INST: The Capital Market Before 1600

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      ABSTRACTS IN ECONOMIC HISTORY
                    (c) 1999 EH.Net
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Name: Meir Kohn
E-mail address: mkohn@dartmouth.edu
Institution: Dartmouth College

Title of work: The Capital Market Before 1600

Available on the Web at:
http://www.ssrn.com/papers/9902/99022418.pdf
http://www.dartmouth.edu/~mkohn/99-06.pdf

By Mail:
Department of Economics
Dartmouth College
Hanover, NH 03755 USA

Language: English.

Abstract:

This paper describes the evolution of long-term debt and equity finance in
medieval and early modern Europe. The main issuers of long-term debt were
landowners and municipalities. The paper discusses the evolution of debt
secured by land and the use by municipal borrowers of annuities and "funded
debt" (securitization). The paper then describes the various forms of
equity finance and how they addressed the corporate governance problem.

Bibliography: Kohn, Meir. "The Capital Market Before 1600." Working
paper, 1999.

Subject: H
Geographical Area: 4
Country or Region:
Time Period: 3
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