Economic Cooperation in 19th Century Taiwan: Religion and Informal Enforcement

Kelly B. Olds and Ruey-Hua Liu

Journal of Institutional and Theoretical Economics (JITE), 2000, vol. 156, issue 2, 404-

Abstract: In the pre-20th-century Taiwanese economy, religious corporations played a primary role in providing informal enforcement services. This paper presents evidence that many of these religious corporations were important to commerce and investment in Chinese society, but agency problems limited their size and they thus tended to fragment society into rival groups making the broad transparent markets necessary for economics development difficult to establish.

JEL-codes: N45 (search for similar items in EconPapers)
Date: 2000
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