IDEAS home Printed from https://ideas.repec.org/p/ysm/somwrk/ysm12.html
   My bibliography  Save this paper

China and the World Financial Markets 1870-1930:Modern Lessons From Historical Globalization (Chinese Version)

Author

Listed:
  • WILLIAM N. GOETZMANN

    (Yale School of Management, International Center for Finance)

  • ANDREY UKHOV

    (Yale School of Management)

  • NING ZHU

    (University of California, Davis)

Abstract

In 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.

Suggested Citation

  • William N. Goetzmann & Andrey Ukhov & Ning Zhu, 2004. "China and the World Financial Markets 1870-1930:Modern Lessons From Historical Globalization (Chinese Version)," Yale School of Management Working Papers ysm12, Yale School of Management.
    • Handle: RePEc:ysm:somwrk:ysm12
    as

    Download full text from publisher

    File URL: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=289143
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Allen, Franklin & Qian, Jun & Zhang, Chenying, 2011. "An Alternative View on Law, Institutions, Finance and Growth," Working Papers 11-64, University of Pennsylvania, Wharton School, Weiss Center.
    2. Avishek Bhandari, 2020. "A wavelet analysis of inter-dependence, contagion and long memory among global equity markets," Papers 2003.14110, arXiv.org.
    3. William Goetzmann & Elisabeth Köll, 2004. "The History of Corporate Ownership in China: State Patronage, Company Legislation, and the Issue of Control," Yale School of Management Working Papers ysm450, Yale School of Management.

    More about this item

    JEL classification:

    • N0 - Economic History - - General
    • N2 - Economic History - - Financial Markets and Institutions
    • N25 - Economic History - - Financial Markets and Institutions - - - Asia including Middle East

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ysm:somwrk:ysm12. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/smyalus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.