| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21349 |
| 来源ID | Working Paper 21349 |
| Capital Markets in China and Britain, 18th and 19th Century: Evidence from Grain Prices | |
| Wolfgang Keller; Carol H. Shiue; Xin Wang | |
| 发表日期 | 2015-07-13 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Based on the most comprehensive grain prices available, we employ a storage model to estimate consistent interest rates and compare capital market development in Britain and China. Interest rates for Britain were lower than China’s on average by about three percentage points from 1770 to 1860. Regional capital market integration in the Yangzi Delta comes close to the British average at distances below 200 kilometers, but at larger distances interest rate correlations in Britain are twice those of the Delta, and three or more times as high as elsewhere in China. Overall, our results suggest capital market divergence at an early date. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; History ; Macroeconomic History ; Financial History ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w21349 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579021 |
| 推荐引用方式 GB/T 7714 | Wolfgang Keller,Carol H. Shiue,Xin Wang. Capital Markets in China and Britain, 18th and 19th Century: Evidence from Grain Prices. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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