Chinese Capital Markets: The Importance of History for Modern Development

European Journal of Finance, Forthcoming

12 Pages Posted: 3 Sep 2018

See all articles by Alessandra Guariglia

Alessandra Guariglia

University of Birmingham - Department of Economics

Wenxuan Hou

University of Edinburgh - Business School; University of Edinburgh - Business School; Shanghai Lixin University of Accounting and Finance

Xiuping Hua

University of Nottingham Ningbo China - Business School

Yiping Huang

Peking University, National School of Development

Date Written: July 1, 2018

Abstract

The historical determinants of modern economic development have been widely studied since the seminal work of Engerman and Sokoloff (1997, 2002) and Acemoglu et al. (2001, 2002). The literature is largely based on the former European colonies, especially in Africa. Notwithstanding China’s long and rich history, its long-term effect on modern day development, particularly financial development, remains under-researched. The shocks experienced by China provide important settings for future research in that many of them were sufficiently severe and traumatic for their effects to be detectable today and for them to have an effect on the development of the country even now.

Keywords: China, Economic Development, Financial Development, History, Traumatic Shocks

JEL Classification: G21, G30, N27, Z13

Suggested Citation

Guariglia, Alessandra and Hou, Wenxuan and Hou, Wenxuan and Hua, Xiuping and Huang, Yiping, Chinese Capital Markets: The Importance of History for Modern Development (July 1, 2018). European Journal of Finance, Forthcoming , Available at SSRN: https://ssrn.com/abstract=3232980

Alessandra Guariglia

University of Birmingham - Department of Economics ( email )

United States

Wenxuan Hou (Contact Author)

University of Edinburgh - Business School ( email )

University of Edinburgh
29 Buccleuch Place
Edinburgh, Scotland EH8 9JS
United Kingdom

HOME PAGE: http://www.wenxuanhou.com

University of Edinburgh - Business School ( email )

University of Edinburgh
29 Buccleuch Place
Edinburgh, Scotland EH8 9JS
United Kingdom

HOME PAGE: http://www.wenxuanhou.com

Shanghai Lixin University of Accounting and Finance ( email )

Xiuping Hua

University of Nottingham Ningbo China - Business School ( email )

199 Taikang East Road
University Park
Ningbo, 315100
China
+86-574-88180305 (Phone)
+86-574-88180125 (Fax)

Yiping Huang

Peking University, National School of Development ( email )

No. 38 Xueyuan Road
Haidian District
Beijing, Beijing 100871
China

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