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Dark Matter Credit$
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Philip T. Hoffman, Gilles Postel-Vinay, and Jean-Laurent Rosenthal

Print publication date: 2019

Print ISBN-13: 9780691182179

Published to Princeton Scholarship Online: May 2019

DOI: 10.23943/princeton/9780691182179.001.0001

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PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 26 January 2022

The Revolution

The Revolution

Collapse, Reform, and Modeling the Space of Debt

(p.74) Chapter 3 The Revolution
Dark Matter Credit

Philip T. Hoffman

Gilles Postel-Vinay

Jean-Laurent Rosenthal

Princeton University Press

This chapter focuses on the French Revolution's impact on credit markets and the long-term implications for lending. It begins with the revolution's fundamental institutional reforms, which shaped credit markets for the rest of the nineteenth century. The chapter analyzes the effect of the reforms and the consequences of the revolutionary inflation—this entails looking at how borrowers and lenders reacted, both in the short and long run. It also involves examining shifts in their demand for notaries' services, whether to draw up contracts if clients were illiterate, or to secure loans with collateral. Finally, the chapter examines the difficulty that borrowers and lenders had in the peer-to-peer matching markets where only a few loans were made each month.

Keywords:   French Revolution, credit markets, lending, institutional reforms, nineteenth century, borrowers, loans, matching markets

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