04240nam a22004935i 4500001001800000003000900018005001700027007001500044008004100059020001800100024003500118050000700153072001600160072002300176072001500199100015500214245017800369250001800547264007900565300006600644336002600710337002600736338003600762347002400798490005300822505032500875520207701200650002203277650001303299650001303312650001503325650002503340650002203365650002303387650004403410650002503454710003403479773002603513776003603539776003603575776003603611830005303647856004603700978-3-031-71810-6DE-He21320251030113235.0cr nn 008mamaa241019s2024    sz |    s    |||| 0|eng d  a97830317181067 a10.1007/978-3-031-71810-62doi 4aHC 7aKCZ2bicssc 7aBUS0230002bisacsh 7aKCZ2thema1 aRivas Moreno, Juan José.eauthor.0(orcid)0000-0002-5753-47461https://orcid.org/0000-0002-5753-47464aut4http://id.loc.gov/vocabulary/relators/aut14aThe Capital Market of Manila and the Pacific Trade, 1668-1838h[electronic resource] :bInstitutions and Trade during the First Globalization /cby Juan José Rivas Moreno.  a1st ed. 2024. 1aCham :bSpringer Nature Switzerland :bImprint: Palgrave Macmillan,c2024.  aXVII, 296 p. 18 illus., 15 illus. in color.bonline resource.  atextbtxt2rdacontent  acomputerbc2rdamedia  aonline resourcebcr2rdacarrier  atext filebPDF2rda1 aPalgrave Studies in Economic History,x2662-65000 aChapter I: Introduction -- Chapter II - The Manila Trade -- Chapter III - The Capital Markets of the Manila Trade -- Chapter IV - The Business Model of the one-Galleon System -- Chapter V – An Alternative model of Trade Finance -- Chapter VI – The Political Economy of the Manila trade -- Chapter VII – Conclusion.  aEconomic history has always emphasized the importance of long-distance trade in the emergence of modern financial markets, yet almost nothing is known about the Manila trade. This book offers the first reconstruction of the capital market of Manila using new archival sources that have never been used in the economic history of Pacific trade. The book explains how trade between Asia and Spanish America across the Pacific, which lasted for 250 years (1571 – 1815) was financed from the city of Manila.The book analyses the political economy and institutional structures of the Manila capital market in the context of the global silver trade, as well as addressing key similarities and differences with European trade routes and differing approaches to colonialism and commerce in Asian waters. It traces how the Manila capital market emerged in a bottom-up process with a redistributive aspect that tied the interests of citizens with the fortunes of trade, using institutions familiar to the public like legacy funds, brotherhoods and lay religious orders to pool liquidity, originate working capital, and internalise the risk of loss at sea. It challenges the notion that there is a normative model for the development of capital markets and introduces an industrial organisation analysis to the broader structure of Early Modern trade in the Spanish Empire. Sitting at the intersection of economic and financial history, global history, imperial history and political economy, this book will be a cutting-edge and valuable resource for a broad range of scholars. Juan José Rivas Moreno is a historian of early modern finance, specialising in the financing of the Pacific trade. He obtained his PhD in Economic History from London School of Economics in 2023 with a thesis on the capital market of Manila which received the Coleman Prize 2024. Juan José was the recipient of a Newberry Library short-term fellowship and held an Economic History Society Fellowship in 2023-2024. Currently he is a Max Weber fellow at the European University Institute in Florence. 0aEconomic history. 0aFinance. 0aHistory. 0aEconomics. 0aInternational trade.14aEconomic History.24aFinancial History.24aPolitical Economy and Economic Systems.24aInternational Trade.2 aSpringerLink (Online service)0 tSpringer Nature eBook08iPrinted edition:z978303171809008iPrinted edition:z978303171811308iPrinted edition:z9783031718120 0aPalgrave Studies in Economic History,x2662-650040uhttps://doi.org/10.1007/978-3-031-71810-6