RURAL CREDIT MARKETS AND AGGREGATE SHOCKS - THE EXPERIENCE OF NUITS-ST-GEORGES, 1756-1776

• 成果类型: Article
• 署名作者: ROSENTHAL, JL
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• DOI: 10.1017/S0022050700014480
• 发表日期: 1994
• 页码: 288-306
• 关键词: france

摘要

Using a complete enumeration of credit contracts for a rural area in Burgundy, this article examines how credit markets functioned and what role they served. Credit markets distributed funds to a large fraction of the population, and they were organized to mediate problems of asymmetric information. A central constraint on credit markets, however, was the threat of government intervention. Because of this threat, capital markets remained relatively isolated from one another.