Building liquidity and solvency

Construire la liquidité et la solvabilité

Nesrine Bentemessek Kahia () and Jérôme de Boyer Des Roches
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Nesrine Bentemessek Kahia: IRG - Institut de Recherche en Gestion - UPEM - Université Paris-Est Marne-la-Vallée - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12, IRG - Institut de Recherche en Gestion - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel, UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12

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Abstract: This article explores the role of the Bank of England (BoE) and the South Sea Company (SSC) in managing British public debt in the early 18th century. While the SSC resulted in a speculative bubble, the BoE proved to be a model of lasting financial success. This contrast is analyzed through the perspectives of Steuart (1767) and Smith (1776), who studied these financial experiments in relation to the critical issues of public debt liquidity and sovereign solvency.

Keywords: Liquidity; South Sea Company; Bank of England; State solvency; Public debt restructuring; Compagnie des Mers du Sud; Banque d’Angleterre; Solvabilité de l’état; Liquidité; Restructuration de la dette publique (search for similar items in EconPapers)
Date: 2025-06-18
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Published in Revue d'histoire de la pensée économique, 2025, 2025-1 (19), pp.165-192. ⟨10.48611/isbn.978-2-406-18601-4.p.0165⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05547406

DOI: 10.48611/isbn.978-2-406-18601-4.p.0165

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