International Government Finance and the Amsterdam Capital Market 1740-1815 by James Riley, Paperback | Barnes & Noble
International Government Finance and the Amsterdam Capital Market 1740-1815

International Government Finance and the Amsterdam Capital Market 1740-1815

by James Riley
     
 

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During the eighteenth century European governments began systematically using an international credit structure whose centre was the Amsterdam capital market. This book reconstructs that system and surveys its principal effects on the European and especially the Dutch economies. Eighteenth-century states borrowed chiefly to finance wars and, increasingly toward the

Overview

During the eighteenth century European governments began systematically using an international credit structure whose centre was the Amsterdam capital market. This book reconstructs that system and surveys its principal effects on the European and especially the Dutch economies. Eighteenth-century states borrowed chiefly to finance wars and, increasingly toward the century's end, debts from earlier wars. Military and naval spending and debt service together consumed up to eighty percent of peacetime revenues and more in war. Borrowing on international markets stabilised previously disruptive deficit financing techniques and moderated the economic consequences of sharply irregular war spending. This development however, eased the problems of war-making more than it developed national economies or enhanced prosperity. The Dutch, heretofore seen as having squandered the advantage of cheap credit, actually faced the difficult problem of finding productive uses for their savings at satisfactory returns.

Product Details

ISBN-13:
9780521101103
Publisher:
Cambridge University Press
Publication date:
02/12/2009
Pages:
380
Product dimensions:
5.98(w) x 9.02(h) x 0.83(d)

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