Financial Innovation

Explore the changing dynamics of global finance in late 19th century London, marked by declining political risk premiums, increased liquidity, and significant financial innovations.

Understanding China's economic struggles through the lens of the East-West divergence, examining how macroeconomic luck, industrial development, and financial innovation contributed to its stagnation.

Explore 17th-century Europe's shift from mercantilism to complex international trade and finance with joint-stock companies, commercial banking, and insurance emerging as key players.

Discover how 17th-century Amsterdam became a hub for financial innovation with joint-stock companies, central banks, and lottery loans.

The cotton-backed bond scheme, a unique financial innovation that allowed the Confederate states to raise funds from European investors during the American Civil War.

Explore the evolution of money from physical precious metals to abstract liabilities and assets, shaped by technological advancements, financial innovation, and policy changes.

The Medici banking empire rose to power in 15th-century Italy through innovative use of bills of exchange, a system that allowed merchants to transfer value without physical currency.

The 14th century saw the rise and fall of medieval finance, with moneylenders like Bardi and Peruzzi dominating Italian commerce before facing defaults and collapse.