This open access book explores the history of risk management in medieval and early modern European maritime business, focusing particularly on 'General Average' - a mechanism by which extraordinary expenses regarding ship or cargo, incurred during a voyage to save the venture, are shared...

The pivotal role played by non-banking institutions in supporting the expansion of international trade after the Napoleonic Wars and before first globalization c. 1870 - 1913 has long been recognised. Merchant-bankers in particular played a crucial role by advancing monies to consignors of...