Questioning Credible Commitment : Perspectives on the Rise of Financial Capitalism

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Contents; Figures; Tables; Contributors; Preface; Acknowledgements; 1 Introduction; References; 2 Could the crown credibly commit to respect its charters? England, 1558-1640; Standard analytical frameworks; The puzzle; Availability of commitment devices; Reputation; Institutional devices; Independent judiciary and the common law; Constitution; Interest groups; The Spanish Company; Darcy v. Allen; The statute of monopolies; East India Company; Comparison with the Continent; Conclusion; References

3 Contingent commitment: The development of English marine insurance in the context of New Institutional Economics, 1577-1720Marine insurers, disputes, and NIE; Acts of the Privy Council; The insurance act; The merchant insurers bill; The Bubble Act; Outcomes; Key to archive references; References; 4 Credibility, transparency, accountability, and the public credit under the Long Parliament and Commonwealth, 1643-1653; Parliamentary supremacy? 'Administration by legislation'; Transparency, accountability, and the 'publike faith'

Constitutional monarchies and bureaucratic states: model specificationsKey to references; References; 5 Jurisdictional controversy and the credibility of common law; Key to archive references; References; 6 The importance of not defaulting: The significance of the election of 1710; References; 7 Financing and refinancing the War of the Spanish Succession, and then refinancing the South Sea Company; The War of the Spanish Succession; Dealing with the debts created by the war; Investors in British state debt; Trading in long-term debt, 1719-21, and South Sea Annuities, 1723-8; Conclusion

Key to archive referencesReferences; 8 Sovereign debts, political structure, and institutional commitments in Italy, 1350-1700; The financial demands of warfare; Genoa: A republic of bondholders; Florence: From a republican to a princely debt; Rome: The pope's two debts; Naples: The economic limits of financial innovation; Comparisons; Beyond the Alps; References; 9 Bounded leviathan: Fiscal constraints and financial development in the Early Modern Hispanic world; Model specifications; Empirical evidence; Revenue per capita; Interest rates

Investing in coercion: Forced loans, currency manipulations, and monopoliesCoordination problems; Conclusion; References; 10 Court capitalism, illicit markets, and political legitimacy in eighteenth-century France: The salt and tobacco monopolies; Fiscalising consumption; Opposition to fiscal monopolies; Revolution; Key to archive references; References; 11 Institutions, deficits, and wars: The determinants of British government borrowing costs from the end of the seventeenth century to 1850; Britain: From the Glorious Revolution to Waterloo; Meiji Japan; Emerging markets 1870-1914

Emerging markets in the 1990s

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