The present study offers an in-depth examination of the institutional framework within which money operated as an economic agent in the Roman empire. Analyses focus on Classical Roman Law as reflected in the writings of Roman jurists from the second and early-third centuries CE. The legal sources are augmented by documentary materials, which give independent, albeit sporadic, evidence for actual practice. The thesis follows current trends in economic history to adopt approaches advanced by New Institutional Economics (NIE), while generally accepting Keynesian claims for the endogenous nature of money. Its innovative contribution is in suggesting a complexity-oriented approach to modelling the behaviour of money in the Roman empire; seeing money as a complex economic phenomenon, i.e. as a diverse and manifold apparatus which allows for new patterns of activity to be created by individuals, who self-adjust their use of it to the continuously evolving system in which they operate. The thesis is divided into four parts. The first is introductory. The second concerns the legal institutional framework for economic interaction; with discussions generally organised according to Roman legal categorisation, and considers developments in the role allocated to money in legal definitions for exchange transaction. The third part examines two study-cases of money-related institutions, namely, the instrument of interest, and interest-bearing deposits, demonstrating how money stimulated the interconnected dynamics within and between legal traditions operating under Roman regime. The fourth and last part is dedicated to a more general analysis of the complex nature of Roman money, attempting to model the historical example of Roman money with the help of complexity-oriented visualisations.

Au printemps 68, les provinces occidentales se révoltèrent contre Néron. Elles choisirent pour le remplacer Servius Sulpicius Galba, un sénateur d’une antique noblesse qui avait connu une brillante carrière politique et qui était légat d’Auguste propréteur de l’Hispanie Citérieure au moment de l’insurrection. Galba dut alors organiser la révolte et lever les troupes qui seraient nécessaires à cette entreprise. Proclamé empereur par les prétoriens et le Sénat après le suicide de Néron au mois de juin 68, il quitta sa province et se mit en route vers Rome. Parvenu dans la capitale de l’Empire, le nouveau prince fut confronté à des difficultés de taille : les finances de l’État romain se trouvaient dans une situation très préoccupante à cause des largesses de Néron. Par ailleurs, puisque Galba était le premier empereur qui ne faisait pas partie de la famille julio-claudienne, il dut trouver les moyens d’assurer la légitimité de son élévation au sommet de l’Empire. Les sources littéraires concernant l’année 69 sont nombreuses ; moins bien connue, l’année 68 nous a semblé pouvoir être étudiée grâce au recours aux sources numismatiques, car elles permettent d’appréhender les principales caractéristiques du principat de Galba : financement d’une révolte contre le pouvoir central, paiement de la solde des légionnaires, redressement des finances de l’État et légitimation de la position du nouveau prince. L’étude des monnaies, s’appuyant sur la constitution d’un corpus de quelque 7.300 exemplaires à l’effigie de Galba, permet à la fois de combler les manques des sources littéraires relatives à l’année 68 et de confronter divers types de sources pour améliorer la connaissance de son principat. / In the spring of AD 68, the Western Provinces rebelled against Nero. To replace him, they chose Servius Sulpicius Galba, a senator of ancient nobility who had known a brilliant political career, and who – at the time of the insurrection – was legatus Augusti pro praetore of Hispania Citerior. Galba then had to organise the revolt, and raise the troops required for this enterprise. Acclaimed Emperor by the praetorians and the Senate after Nero’s suicide in June 68, he left his province and went to Rome. Once in the Empire’s capital city, the new prince was faced with major difficulties: the State’s finances were in a very worrying shape because of Nero’s largesse. Furthermore, Galba being the first emperor not to belong to the Julio-Claudian family, had to find ways to ensure the legitimacy of his elevation to the throne. Literary sources regarding the year 69 are numerous; the year 68, meanwhile, is less well known, but is possible to study in the light of numismatic sources, as they allow us to apprehend the main characteristics of Galba’s Principate: financing a revolt against the central power, paying the legionaries, rectifying the State’s finances, and legitimising the new prince’s position. The study of coinage, based on the establishment of a corpus of some 7300 specimens with Galba’s effigy, allows us to fill the gaps of literary sources concerning the year 68, and to approach various types of sources in order to improve our knowledge of his Principate.

The landlord system and the limits of liberal Spanish monetary policy in the first half of the 19th centuryThis paper aims to deepen the understanding of the transition from traditional to modern monetary systems and its impact on economic growth in the Spanish economy over the first half of the nineteenth century. The main sources on which the study of this period’s monetary policy is based, are, among others, the proceedings of the parliamentary committee; during the Trienio Liberal, these related to a draft for the complete reform of the monetary system inherited from the Antiguo régimen, whose results would be constrained by three factors: firstly, by the persistence of traditional institutions; secondly, by difficulties in linking this monetary reform with the discussions that were taking place in the more developed countries, particularly in England; and, thirdly, the short duration of the period in which it took place, and the restoration of the old monetary policy with the Tarifa de Tolosa in 1823. / Este trabajo pretende profundizar en la comprensión, para el caso español, del tránsito del sistema monetario tradicional al moderno y sus repercusiones en el crecimiento económico de la economía española a lo largo de la primera mitad del siglo XIX. Tomamos como punto de inflexión el Trienio Liberal y su proyecto de reforma del sistema monetario español heredado del Antiguo Régimen. A continuación analizamos la persistencia del sistema monetario tradicional hasta la reforma del 1848 y la estrecha relación entre los límites de la política monetaria liberal y la pervivencia de unas estructuras productivas y sociales tradicionales

This dissertation studies the role of sterling during the Bretton Woods period (1944-1971). The Bretton Woods system has often been described as a dollar system with sterling having lost its relevance as reserve currency. However, despite being a secondary reserve currency and having lost importance, sterling was the 'first line of defence for the dollar' as contemporaries put it. They frequently stressed the fact that a sterling crisis would have consequences on the stability of the Bretton Woods system but economic historians have never tested this empirically. This dissertation argues that sterling played an important role in the stability of the international monetary system. Foreign exchange market participants globally monitored sterling and US policymaker stepped in to avoid devaluation of the British currency. US support to sterling was mainly due to the fear of a British devaluation, which could trigger a run on the dollar. When the UK finally devalued the pound in 1967, it marked the beginning of an instable period for the international monetary system. The Gold Pool, a syndicate to defend the US gold parity, collapsed in 1968 and this prefigured the end of the Bretton Woods system. This dissertation presents new data along with novel archival material from seven archives across continents to demonstrate how contagion from sterling to the dollar occurred. Modern econometric methods are used to analyse a new dataset with over 80,000 observations of offshore exchange rates, central bank intervention and reserves. This evidence shows that a secondary reserve currency can still play a key role in the stability of the international monetary system.

La Banque de Syrie et du Liban a été créée le 2 janvier 1919 par la Banque Impériale ottomane. Étant une banque commerciale, elle s’est vue attribuer, suite à la signature de la Convention du 23 janvier 1924 avec les États du Levant, le privilège de l’émission de la nouvelle livre libano-syrienne. Cette monnaie est rattachée directement au Franc français afin de faciliter le fonctionnement administratif de la France au Levant et le commerce avec la Métropole. Forte de cette position, la Banque n’a pas hésité d’exercer parallèlement son activité de banque commerciale et en tirer profit. Son activité principale est axée vers le crédit et les avances aux États du Levant et aux particuliers. En plus d’être l’agent financier des États du Levant, elle a été connue aussi pour être une banque de dépôt. Sa position d’une banque émettrice du billet local a inspiré confiance à la population locale pour y venir déposer leurs économies. Sa connaissance du territoire a poussé les capitaux français à s’allier avec elle pour l’exécution de leurs investissements au Levant. Tout au long de son existence, la BSL sera un acteur incontournable de la place financière en Orient. Son histoire est considérée comme indissociable de l’histoire économique du Levant et de la France. / The Bank of Syria and Lebanon was created on January 2, 1919 by the Imperial Ottoman Bank. Being a commercial bank, it has been attributed, following the signature of the Convention of January 23, 1924 with the States of the Levant, the privilege of the issue of the new Lebanese-Syrian bank-note. This currency is directly attached to the French Franc to facilitate the administrative operation of France in the Levant and trade with the Metropolis. In this position, the Bank has not hesitated to simultaneously carry out its commercial banking activity and profit from it. Its main activity is focused on credit and advances to the Levant States and individuals. In addition to being the financial agent of the Levant States, it has also been known to be a deposit bank. Its position as a bank issuing the local bank-note has inspired confidence to the local population to come and deposit their savings. Its knowledge of the territory has pushed French capital to ally with it for the execution of their investments in the Levant. Throughout its existence, BSL will be a key player in the financial market in the East. Its history is considered inseparable from the economic history of the Levant and France.