Modern Capital Markets Commercial Revival of the Middle Ages and Renaissance, 1000-1500 Business org: guilds, regulated associations (eg, Merchants of the Staple) Partnerships and shares Bancos to banks (Italy: deposit/discount, merchant, and pawn banks) Bills of exchange European Discovery of the New World The Price Revolution Spanish/Habsburg dominance of 16th C Long-term annuities Rise of Dutch Republic, late 16th & 17th centuries Dutch financial innovations Public debt Securities markets Wisselbank…
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