Abstract
The formation of the Dutch state has recurrently been related to a 'financial revolution' dating from the 1540s, which created a market for provincial 'renten' (annuities) funded by provincial excises and eagerly bought by 'rentiers' in the province of Holland. New research into Holland's public finance shows that a 'tax revolution' was for several decades a much more important factor in Dutch state formation than the capital market. The loan-component of Holland's financial revolution only materialized after 1600 and was built on short-term 'obligations' rather than on long-term 'renten' and on merchants rather than on 'rentiers'.
| Original language | English |
|---|---|
| Pages (from-to) | 57-89 |
| Number of pages | 33 |
| Journal | Economic History Review |
| Volume | 56 |
| DOIs | |
| Publication status | Published - 2003 |