The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

History of Forward Contracts (Historical Evidence for Forward Contracts)

  • Kim Oosterlinck
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2974

Abstract

A forward contract is an agreement between two parties who specify today the terms (price, underlying asset, quantity, etc.) of an exchange that is to take place at a known future date. Forward contracts can be traced to Greek and Roman times, and may have occurred earlier still; they have been widely traded in Europe (and subsequently elsewhere) since the Middle Ages.

Keywords

Forward contracts Futures 

JEL Classifications

F30 G10 N20 N23 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Kim Oosterlinck
    • 1
  1. 1.