The Structure of Authority, Property Rights and Economic Stagnation: The Case of China

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Title:	The Structure of Authority, Property Rights and Economic Stagnation: The Case of China
Authors:	艾德榮;Ronald Alan Edwards
Contributors:	淡江大學經濟學系
Date:	2005-01-01
Issue Date:	2009-11-30 18:37:27 (UTC+8)
Publisher:	Dragonomics
Abstract:	During the Song Dynasty (960—1279), China experienced unprecedented economic growth, with per-capita GDP increasing from $450 to $600 (in 1990 international dollars), according to estimates by Maddison. In sharp contrast, per-capita GDP remained more or less constant at $600 during the subsequent Ming-Qing period (1368—1911). This raises a major question in Chinese economic history: "Why did China’s early Industrial Revolution of the Song Dynasty give way to a stagnant agrarian economy during the Ming-Qing period?" I argue that a change in China’s provincial institutions in the 1370s, which weakened property right enforcement for commercial and industrial activities, accounts for this change in long-run economic performance.
Relation:	China Economic Quarterly 4(2), pp.541-562
Appears in Collections:	[Graduate Institute & Department of Economics] Journal Article

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