To access the full text documents, please follow this link: http://hdl.handle.net/10230/364

Private borrowing during the financial revolution: Hoare’s Bank and its customers, 1702-1724
Temin, Peter; Voth, Joachim
Universitat Pompeu Fabra. Departament d'Economia i Empresa
The financial revolution improved the British government s ability to borrow, andthus its ability to wage war. North andWeingast argued that it also permitted privateparties to borrow more cheaply and widely.We test these inferences with evidencefrom a London bank.We confirm that private bank credit was cheap in the earlyeighteenth century, but we argue that it was not available widely. Importantly, thegovernment reduced the usury rate in 1714, sharply reducing the circle of privateclients that could be served profitably.
2005-09-15
Economic and Business History
financial revolution
growth
finance
rationing
usury laws
institutional evelopment
eighteenth-century england
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
Working Paper
         

Show full item record

 

Coordination

 

Supporters