The Effect of Bankruptcy Law on Roman Credit Markets



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Texas Tech Business & Bankruptcy Law Journal


This article discusses the effect of bankruptcy law on Roman credit markets and the importance of Roman credit law to our modern ideas of lending. The article focuses on one aspect of the Roman credit economy – how late Republican and early Imperial moneylenders managed risk under the prevailing legal regime. Finally, the article concludes that credit innovations of the late Republic were not nearly as unambiguously positive as they first seem and that while they created a formal regulatory system that was far more friendly to borrowers than that seen before, the warping effect this had on the reality of credit in the Imperial period cannot be ignored.



Roman, Moneylending, Imperial Rome, Risk, Credit


2 Bus. & Bankr. L. J. 207