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State Cash Resources and State Building in Europe 13th-18th century

Katia Béguin
Anne L. Murphy

Markets for Public Debt Securities


Laurent Feller and Dominique Margairaz

Editor's note

The first part of this introduction is by Laurent Feller, the second by Dominique Margairaz.

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The third conference session was devoted to the subject of the public debt securities market. It comprised five papers. Laurent Feller, a medievalist specializing in the middle centuries of the Middle Ages in Italy, and Dominique Margairaz, a modernist, both from the University of Paris 1 Panthéon-Sorbonne, led the discussion. Here they provide a perspective on the chapters by the five contributors.

I. Social and Political Logic of Debt: the Examples of Genoa and Castile

The two articles considered here, one by Jeffrey Miner and the other produced jointly by Carlos Álvarez-Nogal and Christopher Chamley, deal with the same question, management of the long-term public debt, in two very different ways. The first article focuses on the social use, in the broadest possible sense, of public debt securities and forced loans in the city of Genoa in the second half of the fourteenth century, before the establishment of the institution which was to manage the debt, namely the Casa di San Giorgi...


Laurent Feller is Professor at the University of Paris 1 Panthéon-Sorbonne. His notable publications include: ‘Sur la formation des prix dans l’économie du haut Moyen Âge’, Annales. Histoire, Sciences sociales, 66 (3), 2011, pp. 627–661; ‘Dette, stratégies matrimoniales and institution d’héritier: sur l’élite paysanne lombarde au IXe siècle’, Revue Historique, 645 (2), 2008, pp. 339–368.

Dominique Margairaz is Professor of Modern History at the University of Paris 1 Panthéon-Sorbonne. She has recently published: (with P. Gervais and Y. Lemarchand, eds.) Merchants and profit in the age of commerce, London, Pickering and Chatto, 2013; ‘City and country: home, possessions and diet, western Europe 1600–1800’, in F. Trentman (ed.), The handbook of consumption, Oxford, Oxford University Press, 2012, pp. 191–210. She is the editor of the sections: ‘Production et consommation’, in V. Millot, P. Minard and M. Porret (eds.), La grande chevauchée. Faire de l’histoire avec Daniel Roche, Genève, Droz, 2011, part 3, pp. 143–235; ‘Produits et circuits du commerce’, in C. Maitte et al. (eds.), La gloire de l’industrie, Rennes, PUR, 2012, part 2, pp. 91–162.

© Institut de la gestion publique et du développement économique, 2017

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