China and the World Financial Markets 1870-1930:
AbstractIn this paper we review evidence about the development of the Chinese capital markets over a crucial period in world market history, and place that development in the context of world financial markets at the time. Despite fundamental differences between China today and China 100 years ago, it is still important to consider the dangers of an imbalance between domestic and international investor markets, and the mismatch between domestic and foreign expectations about investor protection. The lessons of the last century suggest that China today should consider opening Chinese investor access to foreign capital markets in order to equilibrate the level of diversification between foreign and domestic investors. In addition, protection of domestic corporate investor rights is at least as important as protecting foreign investor rights.
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Bibliographic InfoPaper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm9.
Date of creation: 03 Feb 2004
Date of revision:
Find related papers by JEL classification:
- N0 - Economic History - - General
- N2 - Economic History - - Financial Markets and Institutions
- N25 - Economic History - - Financial Markets and Institutions - - - Asia including Middle East
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-03-22 (All new papers)
- NEP-DEV-2004-03-22 (Development)
- NEP-FIN-2004-03-22 (Finance)
- NEP-FMK-2004-03-22 (Financial Markets)
- NEP-HIS-2004-03-22 (Business, Economic & Financial History)
- NEP-SEA-2004-03-22 (South East Asia)
- NEP-TRA-2004-03-22 (Transition Economics)
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Yale School of Management Working Papers
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