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

In: Quantitative History of China

Author

Listed:
  • Wentian Diao

    (Shanghai University of Finance and Economics)

  • Jinyan Hu

    (Shandong University
    Qingdao University)

  • Chicheng Ma

    (The University of Hong Kong)

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.

Suggested Citation

  • Wentian Diao & Jinyan Hu & Chicheng Ma, 2026. "The Rise and Fall of Shanxi Banks in Historical China: A Political Economy Explanation," Studies in Economic History, in: Zhiwu Chen & Cameron Campbell & Debin Ma (ed.), Quantitative History of China, chapter 0, pages 289-306, Springer.
    • Handle: RePEc:spr:stechp:978-981-96-8272-0_11
    DOI: 10.1007/978-981-96-8272-0_11
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