The Rise and Fall of Shanxi Banks in Historical China: A Political Economy Explanation

Wentian Diao (), Jinyan Hu () and Chicheng Ma ()
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Wentian Diao: Shanghai University of Finance and Economics
Jinyan Hu: Shandong University
Chicheng Ma: The University of Hong Kong

Chapter Chapter 11 in Quantitative History of China, 2026, pp 289-306 from Springer

Abstract: Abstract This chapter studies how political connections shaped the rise and fall of the Shanxi banks (piaohao), a type of Chinese financial institution operated by natives of Shanxi province that dominated inter-regional remittances in the nineteenth century. We find that Shanxi banks opened more branches in provinces where the provincial governors came from Shanxi. However, Shanxi banks declined after political connections were broken due to the collapse of the Qing dynasty in 1911, and the decline was faster in provinces that had been governed by more Shanxi officials than in the other regions.

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:stechp:978-981-96-8272-0_11

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DOI: 10.1007/978-981-96-8272-0_11

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