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Frontiers of Finance: The Political Economy of Public Debt in the Dutch Republic
Series: - Library of Economic History, Volume: 20
Author:
This book analyses the political economy of provincial public debt within the federal Dutch Republic. Frontiers of Finance: The Political Economy of Public Debt in the Dutch Republic shows that the domestic effect of Holland's financial revolution and Amsterdam's subsequent rise to an international financial centre was limited. Instead, the fiscal and legal fragmentation caused differences in risk, capital supply, transaction costs and, consequently, borrowing costs. The merits of Holland’s financial revolution were thus not transferable to another context. The results are relevant for wider debates about the role of institutions and the financial sector for economic growth.
H. Alberto Feenstra, Ph.D. (2018), University of Amsterdam, is postdoctoral researcher at Utrecht University. He publishes on Dutch financial history, including provincial debt and monetary colonial history.
This book is relevant to all readers with an interest in the history of the Dutch Republic, or in the history of public finance, public debt, the relation between financial development, and economic growth.