Publication: La demanda de juros en Castilla durante la Edad Moderna : los juros de alcabalas de Murcia
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2010
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Universidad de Salamanca
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Abstract
La Corona española no pidió prestado solamente a corto plazo a los grandes banqueros internacionales, también lo hizo a largo plazo emitiendo títulos de deuda (juros), que compraron tanto inversores extranjeros como españoles. El recurso a este tipo de financiación fue particularmente intenso en los siglos XVI y XVII y permitió a la Corona española financiar su ambiciosa política exterior. Este trabajo estudia los juros emitidos sobre las alcabalas de Murcia utilizando una serie con todos los juros emitidos sobre ese impuesto y esa ciudad. La investigación intenta aclarar distintos aspectos de la oferta y demanda de deuda pública en Castilla. A través de estas páginas podemos observar el crecimiento en el número de juros, los cambios en el valor medio de sus rentas anuales y el progresivo descenso de los tipos de interés. Este trabajo pone de manifiesto el desarrollo de un mercado secundario de deuda pública en Castilla
The Spanish Crown not only made short term loans from major international bankers, it also borrowed by issuing long term bonds called "juros", which were bought by Spanish and foreing investors. The issue of such public debt instruments was particularly intense in the 16th and 17th centuries in order to finance the Spanish Crown's ambitious foreign policy. This paper studies the "juros" issued on Murcia's "alcabalas" using a data base with all their bonds issued on this tax and city. The research tries to obtain a picture as clear as possible of the supply and demand of "juros" during that period. We were able to observe a growth in the number of "juros", changes in the average value of their annual rents and the decline of the interest rates paid over time. It shows the development of a market for public debt in Castile
The Spanish Crown not only made short term loans from major international bankers, it also borrowed by issuing long term bonds called "juros", which were bought by Spanish and foreing investors. The issue of such public debt instruments was particularly intense in the 16th and 17th centuries in order to finance the Spanish Crown's ambitious foreign policy. This paper studies the "juros" issued on Murcia's "alcabalas" using a data base with all their bonds issued on this tax and city. The research tries to obtain a picture as clear as possible of the supply and demand of "juros" during that period. We were able to observe a growth in the number of "juros", changes in the average value of their annual rents and the decline of the interest rates paid over time. It shows the development of a market for public debt in Castile
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Deuda pública, Juros, Alcabalas, Castilla, Edad Moderna, Public debt, Castile, Early Modern Age
Bibliographic citation
Studia Histórica. Historia Moderna, 2010, n. 32, pp. 47-82