The Financial Power of the Powerless
Socio‐Economic Status and Interest Rates Under Partial Rule of Law
Datos Bibliográficos
| ID | 9718427 |
|---|---|
| Autores | Timur Kuran (0000-0002-3006-4983, Duke University), Jonah Rubin (0000-0002-3133-7947, Chapman University), Jared Rubin |
| Año | 2018 |
| Volumen | 128 |
| Número | 609 |
| Páginas | 758-796 |
| Fecha de publicación | 2018-03-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | The Economic Journal (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editorial | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12389 |
| OpenAlex | W3121475506 |
| Idioma | EN |
| Citas recibidas | 13 |
| Referencias citadas | 2 |
In advanced economies interest rates vary inversely with the risk of default, which itself is negatively related to the borrower’s socio‐economic status. The former relationship depends on the impartiality of the law. Where the law is markedly biased in favour of certain groups, these groups will pay a surcharge for capital. Legal power, as measured by privileges before the law, thus undermines financial power, the capacity to borrow cheaply. Developing this argument, this article also tests it through judicial records from Ottoman Istanbul, 1602–1799. Three privileged Ottoman groups–men, Muslims and titled elites–all paid relatively high interest rates conditional on various loan characteristics
Capital (architecture · Economics · Geography · Ideal (ethics · Impartiality · Interest rate · Law and economics · Loan · Modernization theory · Political science · Power (physics · Rule of law · Usury · Finance · Islamic Finance and Banking Studies · Law
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| Obras citantes distintas | 13 |
|---|---|
| Citas por año | 1,86 |
| Intervalo de citas | 2019 - 2026 (8) |
| Velocidad de citación | current |
| Altamente citado | No |
| Tipos de cita | Neutras: 13 |