Abstract
Iberian colonies produced the vast majority of world precious metals in the Early Modern period, which increased liquidity in the Iberian Peninsula. In this paper, we focus on the relationship between liquidity and financial development – including other relevant variables such as instruments and institutions – to examine the efficiency of the financial systems in Castile and Portugal.
| Original language | English |
|---|---|
| Place of Publication | Genève |
| Publisher | Paul Bairoch Institute of Economic History |
| Pages | 1-28 |
| Number of pages | 28 |
| Publication status | Published - 18 Jan 2021 |
Keywords
- Interest rates
- Financial systems
- Public debt
- Private credit market
- Precious metals