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Central Banking before 1800 – A Rehabilitation - Oxford Scholarship Online
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Central Banking before 1800: A Rehabilitation

Ulrich Bindseil


During the 20th century, a view established itself, according to which (a) defining central banking would be difficult, (b) the Sveriges Riksbank (established in 1668) and the Bank of England (established in 1694) would have been the first central banks, (c) although at that time central banks did not have a policy mandate and no concept of central banking would have existed before the 19th century. This book challenges these views and rehabilitates pre-1800 central banking, including the role of numerous other institutions, mainly on the European continent. Central banking should be defined a ... More

Keywords: History and nature of central banking, central bank money, central banks and financial stability, history of the lender-of-last resort, history of central bank independence, rehabilitation of neglected origins of central banking

Bibliographic Information

Print publication date: 2019 Print ISBN-13: 9780198849995
Published to Oxford Scholarship Online: July 2020 DOI:10.1093/oso/9780198849995.001.0001


Affiliations are at time of print publication.

Ulrich Bindseil, author
Director General of Market Operations, European Central Bank