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Handbook of Key Global Financial Markets, Institutions, and Infrastructure by Gerard Caprio

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Chapter 18

Low Countries Finance, 1348–1700

O. Gelderblom and J. Jonker

Utrecht University, Utrecht, The Netherlands

Outline

Introduction

From the late Middle Ages onward, the Low Countries played a central role in global conflicts and trade, and displayed remarkable economic dynamism. Public financing challenges were at the center of financial innovation, and those challenges reflected the influences of trade and war on government fiscal affairs.

During this period, commercial farming, trade, and manufacturing grew rapidly in the coastal ...

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