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Money without a State: Currencies of the Orthodox Christians in the Balkan Provinces of the Ottoman Empire (17th –19th centuries)

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  • Nikolay Nenovsky
  • Pencho Penchev

Abstract

The paper presents a historical and theoretical analysis of the issue of local currency (coins and paper money), undertaken in various forms by the Orthodox Christians in the Balkan provinces of the Ottoman Empire (XVII –XIX centuries). The paper has two main goals. The first is to enrich the discussion on the diversity and complexity of monetary practices in historical perspective by including experience of the Ottoman Empire. The second is to contribute to a better understanding and rethinking of the economic and social processes in the Ottoman Empire which helped its centuries-long resilience and vitality. In fact, the monetary architecture of the Ottoman Empire was relatively complex. Despite the tension between its different monetary areas and layers, on the whole it managed to ensure flexibility, sustainability, and efficiency in the long-run. Copyright Springer Science+Business Media New York 2016

Suggested Citation

  • Nikolay Nenovsky & Pencho Penchev, 2016. "Money without a State: Currencies of the Orthodox Christians in the Balkan Provinces of the Ottoman Empire (17th –19th centuries)," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(1), pages 33-51, March.
    • Handle: RePEc:kap:revaec:v:29:y:2016:i:1:p:33-51
    DOI: 10.1007/s11138-014-0281-9
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    Cited by:

    1. Hristiyan Atanasov, 2017. "A Financial Reading of the „Tsarigradski newspaper”. An Attemp (1848–1862)," Proceedings of the Centre for Economic History Research, Centre for Economic History Research, vol. 2, pages 72-91, November.
    2. Nikolay Nenovsky & Pencho Penchev, 2018. "The Austrian school in Bulgaria: A history," Russian Journal of Economics, ARPHA Platform, vol. 4(1), pages 44-64, April.

    More about this item

    Keywords

    N13; N93; E42; Diversity of money; Local and community currency; Ottoman and Balkans monetary history;
    All these keywords.

    JEL classification:

    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N93 - Economic History - - Regional and Urban History - - - Europe: Pre-1913
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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