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020 _a9783031718106
_9978-3-031-71810-6
024 7 _a10.1007/978-3-031-71810-6
_2doi
050 4 _aHC
072 7 _aKCZ
_2bicssc
072 7 _aBUS023000
_2bisacsh
072 7 _aKCZ
_2thema
100 1 _aRivas Moreno, Juan José.
_eauthor.
_0(orcid)0000-0002-5753-4746
_1https://orcid.org/0000-0002-5753-4746
_4aut
_4http://id.loc.gov/vocabulary/relators/aut
_986270
245 1 4 _aThe Capital Market of Manila and the Pacific Trade, 1668-1838
_h[electronic resource] :
_bInstitutions and Trade during the First Globalization /
_cby Juan José Rivas Moreno.
250 _a1st ed. 2024.
264 1 _aCham :
_bSpringer Nature Switzerland :
_bImprint: Palgrave Macmillan,
_c2024.
300 _aXVII, 296 p. 18 illus., 15 illus. in color.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aPalgrave Studies in Economic History,
_x2662-6500
505 0 _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.
520 _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.
650 0 _aEconomic history.
_957506
650 0 _aFinance.
_958339
650 0 _aHistory.
650 0 _aEconomics.
_958354
650 0 _aInternational trade.
_958158
650 1 4 _aEconomic History.
_957506
650 2 4 _aFinancial History.
_971057
650 2 4 _aPolitical Economy and Economic Systems.
_970994
650 2 4 _aInternational Trade.
_958158
710 2 _aSpringerLink (Online service)
773 0 _tSpringer Nature eBook
776 0 8 _iPrinted edition:
_z9783031718090
776 0 8 _iPrinted edition:
_z9783031718113
776 0 8 _iPrinted edition:
_z9783031718120
830 0 _aPalgrave Studies in Economic History,
_x2662-6500
_970891
856 4 0 _uhttps://doi.org/10.1007/978-3-031-71810-6
912 _aZDB-2-ECF
912 _aZDB-2-SXEF
999 _c64321
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