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Money, states and empire: financial integration cycles and institutional change in Central Europe, 1400-1520

David Chilosi () and Oliver Volckart ()

Economic History Working Papers from London School of Economics and Political Science, Department of Economic History

Abstract: By analysing a newly compiled database of exchange rates, this paper finds that Central European financial integration advanced in a cyclical fashion over the fifteenth century. The cycles were associated with changes in the money supply. Long-distance financial integration progressed in connection with the rise of the territorial state, facilitated by the synergy between princes and emperor.

JEL-codes: N14 N43 (search for similar items in EconPapers)
Date: 2009-12
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