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Public or private interests? The investment behaviour of public officials in Antwerp during the early modern period

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  • De Vijlder, Nicolas
  • Limberger, Michael

Abstract

Indebted cities were a widespread phenomenon during the Ancien Régime. However, some found ways to innovate the management of their municipal debt, whilst others fell prey to over-indebtedness or default. In this article we have left the success stories aside and focused on the latter. Using early modern Antwerp as a case study, we have disentangled the underlying mechanisms that ultimately lead to over-indebtedness and (in some cases) default. Whilst the economic climate and the relationship between city and state have been rightly identified as major factors in the previous literature, our contribution brings another element to the table, namely, the inflexibility of long-established rent arrangements and the entanglement between the ruling elite and the rentiers. We show that there was a strong overlap between both groups, which had a huge impact on the financial policy of cities during the early modern period.

Suggested Citation

  • De Vijlder, Nicolas & Limberger, Michael, 2014. "Public or private interests? The investment behaviour of public officials in Antwerp during the early modern period," Financial History Review, Cambridge University Press, vol. 21(3), pages 301-326, December.
    • Handle: RePEc:cup:fihrev:v:21:y:2014:i:03:p:301-326_00
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    Cited by:

    1. Zuijderduijn, Jaco, 2016. "The Ages of Women and Men : Life Cycles, Family and Investment in the Fifteenth-Century Low Countries," Lund Papers in Economic History 150, Lund University, Department of Economic History.
    2. D'Maris Coffman & Judy Z. Stephenson & Nathan Sussman, 2022. "Financing the rebuilding of the City of London after the Great Fire of 1666," Economic History Review, Economic History Society, vol. 75(4), pages 1120-1150, November.

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