Between Charity and Credit: The Evolution of the Neapolitan Banking System (Sixteenth–Seventeenth Century)

Paola Avallone and Raffaella Salvemini
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Paola Avallone: National Research Council (CNR) – Institute of Studies on Mediterranean Societies (ISSM)
Raffaella Salvemini: National Research Council (CNR) – Institute of Studies on Mediterranean Societies (ISSM)

Chapter Chapter 4 in Financial Innovation and Resilience, 2018, pp 71-93 from Palgrave Macmillan

Abstract: Abstract Faced with increasing demands for charity by the urban poor, on the one hand, and increased demands for funding by the government, on the other, the “non-profit” institutions in the Kingdom of Naples ultimately came up with a unique model of public banks that combined charity and credit. By providing services such as alms, dowries, food and milk for foundlings, accommodation, clothing, medical care, education and interest-free loans on pledge, they provided social shock absorbers. Operating as true businesses, they produced and sold goods, loaned money to the state, the city and individuals of all classes. As banks, they formed the base of the financial and credit system of the Kingdom of Naples in the sixteenth century, reinvesting profits from their activities into charitable services.

Keywords: Credit; Bank; Poor; Charities; Southern Italy (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-3-319-90248-7_4

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DOI: 10.1007/978-3-319-90248-7_4

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