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Rethinking Debt: The Evolution of Private Credit Markets in Preindustrial France
Umeå University, Faculty of Arts, Department of historical, philosophical and religious studies.
(English)In: Social science history, ISSN 0145-5532, E-ISSN 1527-8034Article in journal (Refereed) Accepted
Abstract [en]

This paper focuses on traditional private credit markets in eighteenth-century France through the examination of notarized loan deeds and to a lesser extent civil court records. It examines in particular how credit markets functioned and how they developed in the eighteenth century. It argues that traditional credit markets featured norms of solidarity, cooperation and fairness, and allowed considerable flexibility and input from both creditors and debtors. But in the middle of the eighteenth century, this market experienced several major changes. Not only did the volume of exchange and the number of notarized credit contracts dramatically increase, engendering a standardization of contracts and a greater resort to external institutions, but a new group of investors modified the traditional norms and practices of exchange. This paper concludes that the private credit market shifted from an institution in which input, negotiation and flexibility prevailed to a more rigid institution in which rules and rigour applied.

Keyword [en]
debt, credit, markets, France, peasants, cooperation, fairness, contracts
National Category
Humanities and the Arts
Research subject
History
Identifiers
URN: urn:nbn:se:umu:diva-133837OAI: oai:DiVA.org:umu-133837DiVA: diva2:1089173
Projects
Skulder i det förindustriella Europa
Available from: 2017-04-18 Created: 2017-04-18 Last updated: 2017-04-18

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
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