The Economic and Social Bases of Urban Credit. Valladolid in the Later Middle Ages

Abstract

At the end of the 15th century, Valladolid became one of the main Castilian urban centres as a result both of the inner economic growth dynamic and of the presence and activity of some important institutions. These conditions favoured the arrival of new inhabitants; merchants and artisans seeking to prosper and making the most of the opportunities provided by the expansion of markets. In that context, the aim of this work is to analyse how the commercial and productive activities – stimulated by the growing demand – based its development on the advance of private credit. Therefore, the analysis of credit demand and credit supply is deemed essential. A second goal will be to explore the social dynamics of credit in Valladolid through the analysis of personal relations among debtors and creditors. In that sense, our study will consider the role played by formal and informal ties (based on notions such as confidence and honour) in order to reflect on the social bases of credit.