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Money, states and empire: financial integration cycles and institutional change in Central Europe, 1400-1520

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By analysing a newly compiled database of exchange rates, this paper finds that Central European financial integration advanced in a cyclical fashion over the fifteenth century. The cycles were associated with changes in the money supply. Long-distance financial integration progressed in connection with the rise of the territorial state, facilitated by the synergy between princes and emperor.

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en

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application/pdf

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http://eprints.lse.ac.uk/27884/1/WP132.pdf

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