Investment and Saving Opportunities for Different Socio-Economic Groups in Medieval and Early Modern Europe

Abstract This special issue focuses on the financial behaviour of different participants in European medieval and early modern financial markets. It extends our knowledge of the financial strategies employed by households, merchants, charities, city governments and corporations by asking what investment opportunities, ways of saving money and maintaining cash flow were available to different socio-economic groups in premodern societies. Borrowing and lending activities were not limited to formal capital markets, but also included informal financial transactions within social networks. In many cases, people did not rely on a single financial institution, but used a variety of financial intermediaries and strategies, each with its own advantages and disadvantages. Medieval and early modern capital markets often involved different institutions that complemented each other. The current issue contributes to our understanding of early financial behaviour by highlighting specific historical markets and actors, ranging from institutional actors (governments, charitable institutions) to merchants, craftsmen, and peasants, including many women.