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Capital WomenThe European Marriage Pattern, Female Empowerment and Economic Development in Western Europe 1300-1800$
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Jan Luiten van Zanden, Sarah Carmichael, and Tine De Moor

Print publication date: 2019

Print ISBN-13: 9780190847883

Published to Oxford Scholarship Online: March 2019

DOI: 10.1093/oso/9780190847883.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 13 December 2019

The Effects on Capital Market Development

The Effects on Capital Market Development

Chapter:
(p.93) 4 The Effects on Capital Market Development
Source:
Capital Women
Author(s):

Jan Luiten

Publisher:
Oxford University Press
DOI:10.1093/oso/9780190847883.003.0004

In this chapter, the authors analyze the functioning of private capital markets in Holland in the late medieval period. They argue that in the absence of banks and state agencies involved in the supply of credit, entrepreneurs' access to credit was determined by two interrelated factors. The first was protection of property rights and the extent to which properties could be used as collateral. The second was interest rates for borrowing money at the time, as well as the obligations of such borrowing compared with the interest rates on risk-free investments. The chapter’s case study is the small town of Edam and its surrounding countryside, De Zeevang, during the fifteenth and sixteenth centuries. The authors show that many households (whether headed by men or women) owned financial assets and/or debts, and the degree of financial sophistication was relatively high.

Keywords:   capital market, financial history, credit market, property rights, savings

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