The Voskopoja Guild of Tailors’ Credit Lending Operations and Risk Management (1716–27)

Abstract

The paper analyzes the credit activities of the Voskopoja (Moschopolis) guild of tailors on the basis of a new dataset constructed from its credit lending transactions recorded in a guild register. The dataset was used to understand lending patterns and risk management in the local economy of Voskopoja and compare them with similar practices in other parts of the Ottoman empire. I found that interest rates were not stable in 1716–27 and that the Voskopoja economy experienced an economic growth in this period. This case study contributes to our understanding of Ottoman financial institutions, guilds as lending institutions, their business organization, as well as the operations of local credit markets.