Dark matter credit: the development of peer-to-peer lending and banking in France
How a vast network of shadow credit financed European growth long before the advent of bankingPrevailing wisdom dictates that, without banks, countries would be mired in poverty. Yet somehow much of Europe managed to grow rich long before the diffusion of banks. Dark Matter Credit draws on centuries...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Princeton ; Oxford
Princeton University Press
[2019]
|
| Schriftenreihe: | The Princeton economic history of the Western world
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis Klappentext |
| Zusammenfassung: | How a vast network of shadow credit financed European growth long before the advent of bankingPrevailing wisdom dictates that, without banks, countries would be mired in poverty. Yet somehow much of Europe managed to grow rich long before the diffusion of banks. Dark Matter Credit draws on centuries of cleverly collected loan data from France to reveal how credit abounded well before banks opened their doors. This incisive book shows how a vast system of shadow credit enabled nearly a third of French families to borrow in 1740, and by 1840 funded as much mortgage debt as the American banking system of the 1950s.Dark Matter Credit traces how this extensive private network outcompeted banks and thrived prior to World War I-not just in France but in Britain, Germany, and the United States-until killed off by government intervention after 1918. Overturning common assumptions about banks and economic growth, the book paints a revealing picture of an until-now hidden market of thousands of peer-to-peer loans made possible by a network of brokers who matched lenders with borrowers and certified the borrowers' creditworthiness.A major work of scholarship, Dark Matter Credit challenges widespread misperceptions about French economic history, such as the notion that banks proliferated slowly, and the idea that financial innovation was hobbled by French law. By documenting how intermediaries in the shadow credit market devised effective financial instruments, this compelling book provides new insights into how countries can develop and thrive today |
| Beschreibung: | 303 Seiten Diagramme, Karten |
| ISBN: | 9780691182179 |
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| 520 | 3 | |a How a vast network of shadow credit financed European growth long before the advent of bankingPrevailing wisdom dictates that, without banks, countries would be mired in poverty. Yet somehow much of Europe managed to grow rich long before the diffusion of banks. Dark Matter Credit draws on centuries of cleverly collected loan data from France to reveal how credit abounded well before banks opened their doors. This incisive book shows how a vast system of shadow credit enabled nearly a third of French families to borrow in 1740, and by 1840 funded as much mortgage debt as the American banking system of the 1950s.Dark Matter Credit traces how this extensive private network outcompeted banks and thrived prior to World War I-not just in France but in Britain, Germany, and the United States-until killed off by government intervention after 1918. Overturning common assumptions about banks and economic growth, the book paints a revealing picture of an until-now hidden market of thousands of peer-to-peer loans made possible by a network of brokers who matched lenders with borrowers and certified the borrowers' creditworthiness.A major work of scholarship, Dark Matter Credit challenges widespread misperceptions about French economic history, such as the notion that banks proliferated slowly, and the idea that financial innovation was hobbled by French law. By documenting how intermediaries in the shadow credit market devised effective financial instruments, this compelling book provides new insights into how countries can develop and thrive today | |
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Contents Acknowledgments Introduction vii 1 Chapter 1.1740 and the Rules of the Game 10 Chapter 2. Spatial Variety versus Centralization: Change in Eighteenth-Century Credit Markets 48 Chapter 3. The Revolution: Collapse, Reform, and Modeling the Space of Debt 74 Chapter 4. Networks of Knowledge 95 Chapter 5. The Brief but Significant Life of an Institutional Innovation 122 Chapter 6. The Diffusion of Banks: Peer-to-Peer Credit Markets as Substitutes for Banks 149 Chapter 7. Banks and Notaries 176 Chapter 8. Prices Return 195 Chapter 9. Conclusion 218 Appendices 239 Notes 2 65 Bibliography 285 Index 299
tíOW A VAST NETWORK OF SHADOW CREDIT FINANCED EUROPEAN GROWTH LONG BEFORE THE ADVENT OF BANKING Prevailing wisdom dictates that, without banks, countries would be mired in poverty. Yet somehow much of Europe managed to grow rich long before the diffusion of banks. Dark Matter Credit draws on centuries of cleverly collected loan data from France to reveal how credit abounded well before banks opened their doors. This incisive book shows how a vast system of shadow credit enabled nearly a third of French families to borrow in 1740, and by 1840 funded as much mortgage debt as the American banking system of the 1950s. Dark Matter Credit traces how this extensive private network outcompeted banks and thrived prior to World War I— not just in France but in Britain, Germany, and the United States—until killed off by government intervention after 1918. Over turning common assumptions about banks and economic growth, the book paints a revealing picture of an until-now hidden market of thousands of peer-to-peer loans made possible by a network of brokers who matched lenders with borrowers aftd certified the borrowers’ creditworthiness. Continued on back flap
Continuedfrom front flap A major work of scholarship, Dark Matter Credit challenges widespread misperceptions about French economic history, such as the notion that banks pro liferated slowly, and the idea that financial innovation was hobbled by French law. By documenting how intermediaries in the shadow credit market devised effective financial instruments, this compelling book provides new insights into how countries can develop and thrive today. PHILIP T. HOFFMAN is the Rea A. and Lela G. Axline Professor of Business Economics and History at the California Institute of Technology. GILLES POSTEL-VINAY is professor emeritus at the Paris School of Economics. JEAN-LAURENT ROSENTHAL is the Rea A. and Lela G. Axline Professor of Business Economics and the Ronald and Maxine Linde Leadership Chair in the Division of the Humanities and Social Sciences at the California Institute of Technology. The Princeton Economic History of the Western World Joel Mokyr, Series Editor Jacket image: Convent’s 1751 letter to Paris notary Simon Hurtrelle about credit market investments that the sisters wish to make (Archives Nationales, France, Y.18581). Photo by Gilles Postel-Vinay. If you want to receive emails about books in your area of interest, sign up at press.princeton.edu |
| any_adam_object | 1 |
| author | Hoffman, Philip T. 1947- Postel-Vinay, Gilles 1946- Rosenthal, Jean-Laurent |
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| author_facet | Hoffman, Philip T. 1947- Postel-Vinay, Gilles 1946- Rosenthal, Jean-Laurent |
| author_role | aut aut aut |
| author_sort | Hoffman, Philip T. 1947- |
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| contents | Chapter 1. 1740 and the Rules of the Game -- Chapter 2. Spatial Variety versus Centralization: Change in Eighteenth- Century Credit Markets -- Chapter 3. The Revolution: Collapse, Reform, and Modeling the Space of Debt -- Chapter 4. Networks of Knowledge -- Chapter 5. The Brief but Significant Life of an Institutional Innovation -- Chapter 6. The Diffusion of Banks: Peer- to- Peer Credit Markets as Substitutes for Banks -- Chapter 7. Banks and Notaries -- Chapter 8. Prices Return -- Chapter 9. Conclusion -- |
| ctrlnum | (OCoLC)1101123745 (DE-599)BVBBV045557475 |
| discipline | Wirtschaftswissenschaften |
| era | Geschichte 1740-1918 gnd |
| era_facet | Geschichte 1740-1918 |
| format | Book |
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| series2 | The Princeton economic history of the Western world |
| spelling | Hoffman, Philip T. 1947- Verfasser (DE-588)13709860X aut Dark matter credit the development of peer-to-peer lending and banking in France Philip T. Hoffman, Gilles Postel-Vinay, Jean-Laurent Rosenthal Princeton ; Oxford Princeton University Press [2019] © 2019 303 Seiten Diagramme, Karten txt rdacontent n rdamedia nc rdacarrier The Princeton economic history of the Western world Chapter 1. 1740 and the Rules of the Game -- Chapter 2. Spatial Variety versus Centralization: Change in Eighteenth- Century Credit Markets -- Chapter 3. The Revolution: Collapse, Reform, and Modeling the Space of Debt -- Chapter 4. Networks of Knowledge -- Chapter 5. The Brief but Significant Life of an Institutional Innovation -- Chapter 6. The Diffusion of Banks: Peer- to- Peer Credit Markets as Substitutes for Banks -- Chapter 7. Banks and Notaries -- Chapter 8. Prices Return -- Chapter 9. Conclusion -- How a vast network of shadow credit financed European growth long before the advent of bankingPrevailing wisdom dictates that, without banks, countries would be mired in poverty. Yet somehow much of Europe managed to grow rich long before the diffusion of banks. Dark Matter Credit draws on centuries of cleverly collected loan data from France to reveal how credit abounded well before banks opened their doors. This incisive book shows how a vast system of shadow credit enabled nearly a third of French families to borrow in 1740, and by 1840 funded as much mortgage debt as the American banking system of the 1950s.Dark Matter Credit traces how this extensive private network outcompeted banks and thrived prior to World War I-not just in France but in Britain, Germany, and the United States-until killed off by government intervention after 1918. Overturning common assumptions about banks and economic growth, the book paints a revealing picture of an until-now hidden market of thousands of peer-to-peer loans made possible by a network of brokers who matched lenders with borrowers and certified the borrowers' creditworthiness.A major work of scholarship, Dark Matter Credit challenges widespread misperceptions about French economic history, such as the notion that banks proliferated slowly, and the idea that financial innovation was hobbled by French law. By documenting how intermediaries in the shadow credit market devised effective financial instruments, this compelling book provides new insights into how countries can develop and thrive today Geschichte 1740-1918 gnd rswk-swf Soziales Netzwerk (DE-588)4055762-5 gnd rswk-swf Schulden (DE-588)4053461-3 gnd rswk-swf Schattenwirtschaft (DE-588)4052105-9 gnd rswk-swf Kreditwesen (DE-588)4032950-1 gnd rswk-swf Darlehen (DE-588)4011058-8 gnd rswk-swf Frankreich (DE-588)4018145-5 gnd rswk-swf Banks and banking / France Loans / France Credit / France BUSINESS & ECONOMICS / Finance Banks and banking Credit Loans France Electronic books Frankreich (DE-588)4018145-5 g Darlehen (DE-588)4011058-8 s Kreditwesen (DE-588)4032950-1 s Schattenwirtschaft (DE-588)4052105-9 s Schulden (DE-588)4053461-3 s Soziales Netzwerk (DE-588)4055762-5 s Geschichte 1740-1918 z DE-604 Postel-Vinay, Gilles 1946- Verfasser (DE-588)133059065 aut Rosenthal, Jean-Laurent Verfasser (DE-588)131449028 aut Erscheint auch als Online-Ausgabe 978-0-691-18505-7 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030941311&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030941311&sequence=000003&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Hoffman, Philip T. 1947- Postel-Vinay, Gilles 1946- Rosenthal, Jean-Laurent Dark matter credit the development of peer-to-peer lending and banking in France Chapter 1. 1740 and the Rules of the Game -- Chapter 2. Spatial Variety versus Centralization: Change in Eighteenth- Century Credit Markets -- Chapter 3. The Revolution: Collapse, Reform, and Modeling the Space of Debt -- Chapter 4. Networks of Knowledge -- Chapter 5. The Brief but Significant Life of an Institutional Innovation -- Chapter 6. The Diffusion of Banks: Peer- to- Peer Credit Markets as Substitutes for Banks -- Chapter 7. Banks and Notaries -- Chapter 8. Prices Return -- Chapter 9. Conclusion -- Soziales Netzwerk (DE-588)4055762-5 gnd Schulden (DE-588)4053461-3 gnd Schattenwirtschaft (DE-588)4052105-9 gnd Kreditwesen (DE-588)4032950-1 gnd Darlehen (DE-588)4011058-8 gnd |
| subject_GND | (DE-588)4055762-5 (DE-588)4053461-3 (DE-588)4052105-9 (DE-588)4032950-1 (DE-588)4011058-8 (DE-588)4018145-5 |
| title | Dark matter credit the development of peer-to-peer lending and banking in France |
| title_alt | Chapter 1. 1740 and the Rules of the Game -- Chapter 2. Spatial Variety versus Centralization: Change in Eighteenth- Century Credit Markets -- Chapter 3. The Revolution: Collapse, Reform, and Modeling the Space of Debt -- Chapter 4. Networks of Knowledge -- Chapter 5. The Brief but Significant Life of an Institutional Innovation -- Chapter 6. The Diffusion of Banks: Peer- to- Peer Credit Markets as Substitutes for Banks -- Chapter 7. Banks and Notaries -- Chapter 8. Prices Return -- Chapter 9. Conclusion -- |
| title_auth | Dark matter credit the development of peer-to-peer lending and banking in France |
| title_exact_search | Dark matter credit the development of peer-to-peer lending and banking in France |
| title_full | Dark matter credit the development of peer-to-peer lending and banking in France Philip T. Hoffman, Gilles Postel-Vinay, Jean-Laurent Rosenthal |
| title_fullStr | Dark matter credit the development of peer-to-peer lending and banking in France Philip T. Hoffman, Gilles Postel-Vinay, Jean-Laurent Rosenthal |
| title_full_unstemmed | Dark matter credit the development of peer-to-peer lending and banking in France Philip T. Hoffman, Gilles Postel-Vinay, Jean-Laurent Rosenthal |
| title_short | Dark matter credit |
| title_sort | dark matter credit the development of peer to peer lending and banking in france |
| title_sub | the development of peer-to-peer lending and banking in France |
| topic | Soziales Netzwerk (DE-588)4055762-5 gnd Schulden (DE-588)4053461-3 gnd Schattenwirtschaft (DE-588)4052105-9 gnd Kreditwesen (DE-588)4032950-1 gnd Darlehen (DE-588)4011058-8 gnd |
| topic_facet | Soziales Netzwerk Schulden Schattenwirtschaft Kreditwesen Darlehen Frankreich |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030941311&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030941311&sequence=000003&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
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