Philip II against the Cortes and the credit freeze of 1575-1577
Christophe Chamley
(1, 2, 3)
,
Carlos Álvarez-Nogal
(4)
Christophe Chamley
- Fonction : Auteur
- PersonId : 1373011
Carlos Álvarez-Nogal
- Fonction : Auteur
- PersonId : 1227473
- ORCID : 0000-0002-0175-597X
- IdRef : 050722964
Résumé
Numerous archival documents show how the suspension of payments by Philip II, in September 1575, on the contracts with Genoese bankers (asientos) induced a freeze of the domestic credit market in Castile through the bankers’ intermediation for asientos and the credit interconnections. Commercial fairs stopped, banks failed and trade suffered while the king granted legal protection to the Genoese bankers. The evidence strikingly confirms that by his strategy, Philip II was able to remove the de facto ceiling on the domestic debt (juros) imposed by the fixed revenue commitment of the Castilian cities in the Cortes. The agreement with the bankers was signed in December 1577 immediately after the cities had agreed to the doubling of their commitment.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Philip II against the Cortes and the credit freeze of 1575-1577
|
Résumé |
en
Numerous archival documents show how the suspension of payments by Philip II, in September 1575, on the contracts with Genoese bankers (asientos) induced a freeze of the domestic credit market in Castile through the bankers’ intermediation for asientos and the credit interconnections. Commercial fairs stopped, banks failed and trade suffered while the king granted legal protection to the Genoese bankers. The evidence strikingly confirms that by his strategy, Philip II was able to remove the de facto ceiling on the domestic debt (juros) imposed by the fixed revenue commitment of the Castilian cities in the Cortes. The agreement with the bankers was signed in December 1577 immediately after the cities had agreed to the doubling of their commitment.
|
Auteur(s) |
Christophe Chamley
1, 2, 3
, Carlos Álvarez-Nogal
4
1
PSE -
Paris-Jourdan Sciences Economiques
( 139754 )
- 48 boulevard Jourdan 75014 Paris
- France
2
Department of Economics
( 164571 )
- 270 Bay State Road, Boston, MA 02215
- France
3
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
4
Departamento de Economía
( 34007 )
- Departamento de Economía Universidad Carlos III de Madrid Calle Madrid, 126 28903 Getafe (Madrid) España
- Espagne
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2016-03
|
Volume |
34
|
Numéro |
3
|
Page/Identifiant |
351-382
|
Domaine(s) |
|
Mots-clés |
en
Credit
|
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