کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5069171 1373041 2010 23 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Evading the 'Taint of Usury': The usury prohibition as a barrier to entry
موضوعات مرتبط
علوم انسانی و اجتماعی علوم انسانی و هنر تاریخ
پیش نمایش صفحه اول مقاله
Evading the 'Taint of Usury': The usury prohibition as a barrier to entry
چکیده انگلیسی
The development of capital markets in medieval Europe was shaped for centuries by the religious ban on lending money at interest. This paper examines how this prohibition developed as the outcome of strategic behavior by religious, commercial and political elites. A model is developed to analyze this hypothesis and to examine how the usury prohibition developed over time. It suggests that an important reason for the persistence of the ban was that it created a barrier to entry that enabled secular rulers, the Church, and a small number of merchant-bankers to earn monopoly rents.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Explorations in Economic History - Volume 47, Issue 4, October 2010, Pages 420-442
نویسندگان
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