Nathan Sussman, 04 October 2019

Economists assume that London's financial and economic development didn't begin until the end of the 17th century. Nathan Sussman tells Tim Phillips about a new trove of contemporary records that stands the conventional wisdom on its head.

Nathan Sussman, 28 September 2019

Most research on the development of English financial markets begins with the Glorious Revolution of 1688. The column uses the debt contracts of the Corporation of London from the 17th century to show that financial development of London between 1638 and 1683 advanced in step with its rival Amsterdam. The supply of capital came mainly from London's wealthy citizens. During this period there is strong correlation between capital deepening in England, and rising GDP per capita. 

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