The Development of Intermediation in French Credit Markets

Evidence from the Estates of Burgundy

Dados Bibliográficos

ID10099751
AutoresMark Potter (0009-0004-3224-4744, Wyoming Department of Education, autor correspondente), Jean-Laurent Rosenthal, Jean‐laurent Rosenthal (University of California, Los Angeles)
Ano2002
Volume62
Fascículo4
Páginas1024-1049
Data de publicação2002-12-01
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoThe Journal of Economic History (JOURNAL)
Identificadores do periódicoISSN: 0022-0507 • E-ISSN: 1471-6372
EditoraCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s0022050702001638
OpenAlexW2072063288
IdiomaEN
Citações recebidas9
Referências citadas16

We document how intermediaries shaped markets or, conversely, how market institutions constrained intermediaries. In Dijon, where the Estates of Burgundy’s debt amounted to nearly half of all bonds in that small market, there was limited need for intermediaries. In the 1740s the borrowing needs of the province expanded, and the estates began to borrow in Paris, where their debt remained a small fraction of the market, and where they relied on notaries to place their bonds and to create a secondary market. These developments assured the estates’ capacity to borrow and thus Burgundian autonomy from the French Crown

Autonomy · Bond · Bond market · Business · Commerce · Debt · Economics · Economy · Financial intermediary · Financial system · Intermediary · Intermediation · Monetary economics · Political science · Secondary market · European Political History Analysis · Finance · Historical Economic and Social Studies · Historical Studies and Socio-cultural Analysis · Law