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Ideology and the Contours of Economic Changes in Modern China during 1850-1950

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  • Ma, Debin

Abstract

What explains economic changes or lack-thereof in modern China during 1850-1950? This paper highlights the critical role of ideology and ideological change induced as a response to Western impact following Qing China’s forced opening during the mid-19th century. I argue that Imperial Qing’s highly centralized and absolutist political regimes and traditional dominance in a China-centred world order have led to a closure of mind to new intellectual resources and initial failure to recognize impending crisis in the new world order. By laying out the quantitative profile of Chinese economic change during 1850-1950 and reviewing the main historiography, this paper builds a new analytical framework linking ideology with economic changes. It delineates three phases of economic changes in light of the specific timing of intellectual and ideological transformation during this period and embed our narrative with two specific cases of commercial and financial developments.

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  • Ma, Debin, 2021. "Ideology and the Contours of Economic Changes in Modern China during 1850-1950," CEPR Discussion Papers 15835, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:15835
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    References listed on IDEAS

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    1. Loren Brandt & Debin Ma & Thomas G. Rawski, 2014. "From Divergence to Convergence: Reevaluating the History behind China's Economic Boom," Journal of Economic Literature, American Economic Association, vol. 52(1), pages 45-123, March.
    2. Iyigun, Murat & Rubin, Jared, 2017. "The Ideological Roots of Institutional Change," IZA Discussion Papers 10703, Institute of Labor Economics (IZA).
    3. Debin Ma, 2012. "Political Institutions and Long-run Economic Trajectory: Some Lessons from Two Millennia of Chinese Civilization," International Economic Association Series, in: Masahiko Aoki & Timur Kuran & Gérard Roland (ed.), Institutions and Comparative Economic Development, chapter 4, pages 78-98, Palgrave Macmillan.
    4. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472, Elsevier.
    5. Broadberry, Stephen & Guan, Hanhui & Li, David Daokui, 2018. "China, Europe, and the Great Divergence: A Study in Historical National Accounting, 980–1850," The Journal of Economic History, Cambridge University Press, vol. 78(4), pages 955-1000, December.
    6. Ye Ma & Herman de Jong, 2019. "Unfolding the Turbulent Century: A Reconstruction of China's Historical National Accounts, 1840–1912," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 65(1), pages 75-98, March.
    7. Ma, Debin & Rubin, Jared, 2019. "The Paradox of Power: Principal-agent problems and administrative capacity in Imperial China (and other absolutist regimes)," Journal of Comparative Economics, Elsevier, vol. 47(2), pages 277-294.
    8. Ma, Debin, 2012. "Political Institution and Long Run Economic Trajectory: Some Lessons from Two Millennia of Chinese Civilization," CEPR Discussion Papers 8791, C.E.P.R. Discussion Papers.
    9. Kyoji Fukao & Debin Ma & Tangjun Yuan, 2007. "Real Gdp In Pre‐War East Asia: A 1934–36 Benchmark Purchasing Power Parity Comparison With The U.S," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 53(3), pages 503-537, September.
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    Keywords

    Ideology; Institutions; Western impact and chinese response; Qing china; Meiji china;
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