A novel series of interest rates paid by the Corporation of London shows that interest rates in London declined by 350 basis points during the seventeenth century. The decline followed a similar pattern in Europe. Records from the Corporation’s archive provide evidence for financial development: an increase in the number and volume of debt instruments, an increase in the number of lenders, and the development of a secondary market. Econometric analysis establishes that increasing the debt instruments’ liquidity contributed to the convergence of interest rates between London and Amsterdam.

中文翻译：

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十七世纪伦敦的金融发展：重新审视金融革命

伦敦公司支付的一系列新利率表明，伦敦的利率在 17 世纪下降了 350 个基点。欧洲也出现了类似的下降趋势。公司档案中的记录为金融发展提供了证据：债务工具数量和数量的增加、贷方数量的增加以及二级市场的发展。计量经济学分析表明，增加债务工具的流动性有助于伦敦和阿姆斯特丹之间的利率趋同。