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The Efficiency of the Chinese Silver Standard, 1920–1933

2021Journal article Restricted access
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dc.contributor.authorPalma, Nuno
dc.contributor.authorZhao, Liuyan
dc.date.accessioned2021-09-15T11:15:47Z
dc.date.available2021-09-15T11:15:47Z
dc.date.issued2021
dc.descriptionThis item may be available elsewhere in EconPapers: https://econpapers.repec.org/paper/mansespap/2004.htmpt_PT
dc.description.abstractWe test for integration of financial markets in China during 1920-1933 using a new dataset of domestic exchange rates. Our data concerns tael-denominated telegraphic transfers between Shanghai and nine other cities. We find that Chinese financial markets, as measured by the efficiency of silver-point arbitrage, were highly integrated among major commercial hubs in north and central China, but there was a lower level of integration for more remote cities in the south. Our paper presents the first comprehensive assessment of the efficiency of the Chinese silver standard and contributes to a revaluation of market performance during pre-communist China.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationPalma, N., Zhao, L. (2021). The Efficiency of the Chinese Silver Standard, 1920-1933. Journal of Economic History, 81(3), pp. 872-908pt_PT
dc.identifier.doi10.1017/S002205072100036Xpt_PT
dc.identifier.issn0022-0507
dc.identifier.urihttp://hdl.handle.net/10451/49518
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherCambridge University Presspt_PT
dc.relationCEECIND/04197/2017pt_PT
dc.relationNational Social Science Foundation of China (20BJL120)pt_PT
dc.relation.publisherversionhttps://www.cambridge.org/core/journals/journal-of-economic-history/article/efficiency-of-the-chinese-silver-standard-19201933/E9BE3E8D2E0F0677524EADAF4974D77Ept_PT
dc.subjectSilver point arbitragept_PT
dc.subjectMarket integrationpt_PT
dc.subjectExchange ratespt_PT
dc.subjectChinese economypt_PT
dc.titleThe Efficiency of the Chinese Silver Standard, 1920–1933pt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.endPage908pt_PT
oaire.citation.issue3pt_PT
oaire.citation.startPage872pt_PT
oaire.citation.titleThe Journal of Economic Historypt_PT
oaire.citation.volume81pt_PT
person.familyNamePalma
person.familyNameZhao
person.givenNameNuno
person.givenNameLiuyan
person.identifier.ciencia-id4C10-FDA4-6647
person.identifier.orcid0000-0003-4614-6518
person.identifier.orcid0000-0003-2256-0175
person.identifier.scopus-author-id24173809500
rcaap.rightsrestrictedAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublicationac91e52e-c54e-49d7-b5be-f08fb8a69534
relation.isAuthorOfPublicationb70fd04c-26d6-4c4b-b80b-3e4d3a0f0c8a
relation.isAuthorOfPublication.latestForDiscoveryb70fd04c-26d6-4c4b-b80b-3e4d3a0f0c8a

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