The persistent institutional effect of liberal colonialism: evidence from China’s financial policies |
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| Authors: | Tong Fu Zhongmei Wei |
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| Institution: | 1. Institute of Industrial Economics/Center for Regulation and Competition, Jiangxi University of Finance and Economics , China;2. Library, Jiangxi University of Finance and Economics , China |
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| Abstract: | ABSTRACT The effect of liberal colonialism on the allocation of capital persists to this day. We exploit the colonial history of China during 1896-1911 with qualitative evidence to measure liberal colonialism. We document that liberal colonialism promotes the subsequent efficiency of financial policies on the capital allocation in 2004 through the quality of economic institutions. |
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| Keywords: | Liberal colonialism economic institutions allocative efficiency China |
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