Gelderblom O. and Jonker J. (2004) Into a higher gear: the VOC shares and the development of AmsterdamApril 13, 2009
Gelderblom, Oscar and Jonker, Joost (2004) “Completing a Financial Revolution: The Finance of the Dutch East India Trade and the Rise of the Amsterdam Capital Market, 1595-1612”, The Journal of Economic History, 64-3, 641-671.
One of the most commonly mentioned innovations of the British Financial Revolution, which occurred under the reign of William III, is the appearance of a secondary market for public and private securities. The earlier Dutch leg of the Financial Revolution, on the other hand, despite the availability of numerous public securities is usually assumed never to have evolve a meaningful secondary market (p.642). But the authors argue that the creation in 1602 of the Verenigde Oostindische Compagnie (the Dutch East India Company or VOC) led to the emergence of such a secondary market and that this market yield some of the advantage associated with the British innovations (p.643). Read the rest of this entry »