Late Middle Ages
In the late 13th and early 14th centuries, a process took place - primarily in Italy but partly also in the Empire - that historians have termed a 'commercial revolution'. Among the innovations of the period were new forms of partnership and the issuing of insurance, both of which contributed to reducing the risk of commercial ventures; the bill of exchange and other forms of credit that circumvented the canonical laws for gentiles against usury, and eliminated the dangers of carrying bullion; and new forms of accounting, in particular double-entry bookkeeping, which allowed for better oversight and accuracy.
In which country did the so-called 'commercial revolution' primarily take place?
Italy
In the late 13th and early 14th centuries, a process took place - primarily in Italy but partly also in the Empire - that historians have termed a 'commercial revolution'.
place