El sistema financiero a finales de la Edad Media: instrumentos y métodos. AAVV

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СКАЧАТЬ der stad Groningen uit de 16de eeuw, The Hague, S Gravenhage, M. Nijhoff, 1896, pp. 205-215, 345-353.

³⁶ The following is based on Jaco Zuijderduijn: «Village-indebtedness in Holland (15^th-16^th centuries)», in Thijs Lambrecht & Phillipp R. Schofield (eds.): Credit and the Rural Economy in Europe, c. 1100-1850, Turnhout, Brepols, 2010, pp. 39-62, 40-41. The only part of Holland not investigated was the country of Voorne and Putten. Furthermore some villages under the jurisdiction of powerful noblemen, and therefore exempt of taxation, do not appear in the source (Robert Fruin (ed.): Informacie up den staet faculteyt ende gelegentheyt van de steden ende dorpen van Hollant ende Vrieslant om daernae te reguleren de nyeuwe schiltaele gedaen in den jaere MDXIV, Leiden, Boekdr. von A.W. Sijthoff, 1866, pp. VI, XXVIII).

³⁷ R. Fruin: Informacie up den staet faculteyt, pp. IX-X.

³⁸ Both Van der Woude and Noordegraaf have used the data the Informacie provides (Adrianus Maria van der Woude: Het Noorderkwartier. Een regionaal historisch onderzoek in de demografische en economische geschiedenis van westelijk Nederland van de late middeleeuwen tot het begin van de negentiende eeuw, Wageningen, Veenman & Zonen, 1972; Leo Noordegraaf: Hollands welvaren? Levensstandaard in Holland 1450-1650, Bergen, Octavo, 1985. Van Zanden used the informacie to come up with a national account of Holland for 1510-1514 (Jan Luiten van Zanden: «Taking the measure of the early modern economy: Historical national accounts for Holland in 1510-1514», European Review of Economic History, 6 (2002), pp. 131-163.

³⁹ See for instance R. Fruin: Informacie up den staet faculteyt, pp. 149, 300. Hoppenbrouwers stressed the unreliability of the data on landed property in the informacie as well Peter C. M. Hoppenbrouwers, «Mapping an unexplored field. The Brenner debate and the case of Holland», in Peter C. M. Hoppenbrouwers & Jan Luiten van Zanden, Peasants into farmers? The transformation of rural economy and society in the Low Countries (middle ages-19^th century) in the light of the Brenner debate, Tournhout, Brepols, 2001, pp. 41-66, p. 44.

⁴⁰ Cf. R. Fruin: Informacie up den staet faculteyt, pp. 512-513; L. M. VerLoren van Themaat et al. (eds.): Oude Dordtse lijfrenten, pp. 123-127. At the end of the 15^th century some towns made adjustments to annuities, to cope with arrears. This involved lowering the interest rate of annuities. The source does not take these adjustments into account; it offers an overview of the interest rates agreed upon when annuities were sold.

⁴¹ Noordwijk Archives, inv. nr. 291 (accounts of 1513 and 1516).

⁴² Jaco Zuijderduijn: «Het lichaam van het dorp. Publieke schuld op het Hollandse platteland rond 1500», Tijdschrift voor sociale en economische geschiedenis, 5 (2008), pp. 107-132, 118.

⁴³ R. Fruin: Informacie up den staet faculteyt, p. 512.

⁴⁴ Herman W. Dokkum & Eef C. Dijkhof: «Oude Dordtse lijfrenten», in Lambertus M. Ver-Loren van Themaat et al. (eds.): Oude Dordtse Lijfrenten. Stedelijke financiering in de vijftiende eeuw, Amsterdam, Verloren, 1983, pp. 37-90, 85-86.

⁴⁵ «Seggen oock, dat, zoe zy niet gelooft en waeren meer renten up heurluyder dorp te vercoopen, zoe hebben zy upte huysen ende landen particulier gehaelt an losrenten 100 currente guldens tsjaers…» (R. Fruin: Informacie up den staet faculteyt, p. 234).

⁴⁶ This pricing mechanism is best studied in: Timur Kuran & Jared Rubin: «The Financial Power of the Powerless: Socio-economic Status and Interest Rates under Partial Rule of Law», The Economic Journal, 128 (2016), pp. 758-796.

⁴⁷ Jean Charles Naber: Een terugblik. Statistische bewerking van de resultaten van de informatie van 1514, Haarlem, Stichting Contactcentrum voor regionale en plaatselijke geschiedbeoefening in Noord- en Zuid-Holland, 1970 (reprint of edition 1885), pp. 36-37.

⁴⁸ Cf. the importance of trade relations for the institutional framework of capital markets Lance Davis: «The capital markets and industrial concentration. The US and UK, a comparative study», The Economic History Review 2^nd series, XIX (1966), pp. 255-272, 256.

⁴⁹ R. Fruin: Informacie up den staet faculteyt, pp. 164-165.

⁵⁰ Cf. Oliver Volckart & Nikolaus Wolf: «Estimating Financial Integration in the Middle Ages: What Can We Learn from a TAR Model?», The Journal of Economic History, 66 (2006), pp. 122-139.

⁵¹ Cf. Larry Neal: The rise of financial capitalism. International capital markets in the Age of Reason, Cambridge, Cambridge University Press, 1990, p. 141.

⁵² This is also more or less why the bill of exchange did not become a major financial instrument. According to L. Neal: «this lending depended on the volume and intensity of commerce between any two cities. So it was limited to merchant bankers dealing in foreign trade, and to cities in close geographical proximity that were politically friendly» (Larry Neal: «How it all began: the monetary and financial architecture of Europe during the first global capital markets, 1648-1815», Financial History Review, 7 (2000), pp. 117-140, 118.

FIANZAS Y FIADORES EN EL SISTEMA FINANCIERO CASTELLANO A FINES DEL MEDIEVO: INSTITUCIONES GENERADORAS DE CONFIANZA^*

      David Carvajal de la Vega Universidad de Valladolid

A fines del Medievo la expansión de la economía, de los mercados, de los instrumentos y de las relaciones financieras era patente en buena parte del occidente europeo.¹ Durante la Baja Edad Media, el progresivo desarrollo del mundo financiero impulsó un complejo entramado de vínculos que permitió integrar el capital en ámbitos como el comercio, la fiscalidad o la deuda pública y privada; haciendo posible el desarrollo y la consolidación de diversos «sistemas financieros», entendiendo estos como el universo conectado formado por instrumentos, instituciones y mercados, operando en un lugar y en un tiempo dados.²

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Los centros italianos, franceses, flamencos, etc., asistieron como espectadores privilegiados de este proceso de auge financiero; si bien es cierto que a la hora de comprender el fenómeno de forma global, atendiendo a la mayor parte de los territorios de la Europa occidental, es fácil observar dinámicas y características que les hacen diferir entre sí. En palabras de Ch. Kindleberger, refiriéndose al estadio inicial СКАЧАТЬ