| Автор | Edvinsson, Rodney |
| Дата выпуска | 2011 |
| dc.description | The decline of interest rates during the early modern period is considered an important factor in the subsequent rise of capitalist society. This article uses unique empirical material based on bills of exchange in Stockholm between 1660 and 1685 to estimate underlying ‘shadow interest rates’. It shows that annual rates ‘according’ to Stockholm were very high, mostly above 10 per cent, an indication of underdeveloped financial integration between Stockholm and the main European centres. There are also indications of a decline in these rates during the period studied, reflecting improved efficiency in Swedish financial markets. |
| Формат | application.pdf |
| Издатель | Cambridge University Press |
| Копирайт | Copyright © European Association for Banking and Financial History e.V. 2011 |
| Тема | Sweden |
| Тема | bill of exchange |
| Тема | interest rate |
| Тема | early modern period |
| Тема | N23 |
| Тема | N13 |
| Название | Shadow interest rates in Stockholm and the integration of early financial markets, 1660–1685: was Heckscher right?<sup>1</sup> |
| Тип | research-article |
| DOI | 10.1017/S0968565011000102 |
| Electronic ISSN | 1474-0052 |
| Print ISSN | 0968-5650 |
| Журнал | Financial History Review |
| Том | 18 |
| Первая страница | 309 |
| Последняя страница | 329 |
| Аффилиация | Edvinsson Rodney; Stockholm University |
| Выпуск | 3 |
