Capital markets and legal development: The China case
In: China economic review, Band 14, Heft 4, S. 451-472
ISSN: 1043-951X
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In: China economic review, Band 14, Heft 4, S. 451-472
ISSN: 1043-951X
In: Capitalizing China, S. 313-336
SSRN
In: Asia-Pacific economic history review: a journal of economic, business & social history, Band 63, Heft 2, S. 128-144
ISSN: 2832-157X
AbstractVolumes of historical archives in China have been digitised, from which various datasets have been constructed for scholarly inquiry. Furthermore, the excavation of thousands of archaeological sites provided detailed data about prehistoric development across China's landmass. As a result, there has been remarkable progress in quantitative studies on China's past. This article reviews recent work in five theme areas to provide a background for the papers included in this special issue. These themes include state formation, Confucianism, human capital, Christian missionaries, and long‐term persistence studies. The five papers in this issue fall into these themes and are introduced where appropriate.
In: The journal of business, Band 67, Heft 2, S. 165
ISSN: 1537-5374
SSRN
SSRN
Working paper
In: Lee Kuan Yew School of Public Policy Research Paper No. 17-14
SSRN
Working paper
In: Explorations in economic history: EEH, Band 63, S. 8-25
ISSN: 0014-4983
In: The economic journal: the journal of the Royal Economic Society, Band 132, Heft 644, S. 1378-1413
ISSN: 1468-0297
AbstractOver the past millennium, China has relied on the Confucian clan to achieve interpersonal cooperation, focusing on kinship and neglecting the development of impersonal institutions needed for external finance. In this paper, we test the hypothesis that the Confucian clan and financial markets are competing substitutes. Using the large cross-regional variation in the adoption of modern banks, we find that regions with historically stronger Confucian clans established significantly fewer modern banks in the four decades following the founding of China's first modern bank in 1897. Our evidence also shows that the clan continues to limit China's financial development today.
In: The journal of business, Band 78, Heft 3, S. 1073-1109
ISSN: 1537-5374
In: Emerging markets, finance and trade: EMFT, Band 59, Heft 10, S. 3129-3151
ISSN: 1558-0938
World Affairs Online
In: National Bureau of Economic Research Conference Report
China's economic boom over the last two decades has taken many analysts by surprise, given the ongoing role of central government planning. Its current growth trajectory suggests that the size of its economy could soon surpass that of the United States. Some argue that continued growth and the expanding middle class will ultimately exert pressure on the government to bring about greater openness of the financial market. To better understand China's recent economic performance, this volume examines the distinctive system it has developed: "market socialism with Chinese characteristics." While its formal institutional makeup resembles that of a free-market economy, many of its practices remain socialist, including strategically placed state-owned enterprises that wield influence both directly and through controlled business groups, and Communist Party cells whose purpose is to maintain control of many segments of the economy. China's economic system, the contributors find, also retains many historical characteristics that play a central role in managing the economy. These and other issues are examined in chapters on China's financial regulations, corporate governance codes, bankruptcy laws, taxation, and disclosure rules