 Amsterdam: The World's First Stock Exchange (17th Century)Mehmet Baha Karan ()
Chapter Chapter 5 in A History of Stock Exchanges, 2025, pp 131-166 from Springer Abstract: Abstract In the seventeenth century, Amsterdam emerged as a global trade and financial hub, propelled by innovative institutions and inclusive legal frameworks. The establishment of the Amsterdam Stock Exchange in 1602, alongside the Dutch East India Company (VOC), introduced a series of financial instruments that were pivotal in facilitating capital accumulation for global trade ventures. These instruments included joint-stock ownership, bonds, and derivatives. The Bank of Amsterdam, established in 1609, enhanced financial stability by providing standardized currency exchange and credit services. These developments resulted in the democratization of investment, enabling a more extensive segment of society to engage in economic growth. The city's commitment to transparency and investor protection attracted international merchants, solidifying its status as a leading financial center. However, by the late seventeenth century, the city faced challenges to its dominance from internal conservatism and external competition, notably from England following the Glorious Revolution. Nevertheless, the city's pioneering financial innovations laid the foundation for modern capital markets. Date: 2025 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-032-07788-2_5 Ordering information: This item can be ordered from DOI: 10.1007/978-3-032-07788-2_5 Access Statistics for this chapter More chapters in Contributions to Economics from Springer |
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