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Contrary to the thesis that frontier economies struggle with high-interest rates and scarcity of capital, we find that the country's low and stable interest rates can be explained by its wide availability of land, combined with monetary stability and a favourable institutional network. These conclusions are built upon an entirely new dataset of interest rates and returns on capital for Portugal in the period 1230\u20131500.<\/jats:p>","DOI":"10.1017\/s0212610919000326","type":"journal-article","created":{"date-parts":[[2019,12,16]],"date-time":"2019-12-16T08:37:50Z","timestamp":1576485470000},"page":"11-44","source":"Crossref","is-referenced-by-count":3,"title":["CAPITAL IN A FRONTIER ECONOMY: PORTUGAL, 1230\u20131500"],"prefix":"10.1017","volume":"38","author":[{"given":"Ant\u00f3nio","family":"Henriques","sequence":"first","affiliation":[]}],"member":"56","published-online":{"date-parts":[[2019,12,16]]},"reference":[{"key":"S0212610919000326_ref60","doi-asserted-by":"crossref","DOI":"10.1163\/ej.9789004175655.i-320","volume-title":"Medieval Capital Markets: Markets for Renten, State Formation and Private Investment in Holland (1300\u20131550)","author":"Zuijderduijn","year":"2009"},{"key":"S0212610919000326_ref56","volume-title":"An Inquiry Into the Nature and Causes of the Wealth of Nations","author":"Smith","year":"1981 [1776]"},{"key":"S0212610919000326_ref210","volume-title":"Les rentes au XVIe si\u00e8cle: histoire d'un instrument de cr\u00e9dit","author":"Schnapper","year":"1957"},{"key":"S0212610919000326_ref28","volume-title":"Uma rua de elite na Guimar\u00e3es medieval (1376\u20131520)","author":"Ferreira","year":"1989"},{"key":"S0212610919000326_ref208","volume-title":"Robert. 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