株式会社極東書店トップ商品一覧The Rise and Fall of a Public Debt Market in 16th-Century China : The Story of the Ming Salt Certificate.

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The Rise and Fall of a Public Debt Market in 16th-Century China

The Rise and Fall of a Public Debt Market in 16th-Century China : The Story of the Ming Salt Certificate. 16世紀中国の公債市場の盛衰

・ISBN 978-90-04-30573-1 hard EUR 103.00

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電子版あり 大学・学術機関向け電子ブック(eBook)ISBN 978-90-04-30640-0

著者・編者Puk, Wing-Kin,
シリーズMonies, Markets, and Finance in East Asia, 1600 - 1900
出版社(Brill, NE)
出版年月2016
ページ数202 pp.
言語ENG
ニュース番号<628-630 628-L781>

解説

During the Ming dynasty (1368-1644), the government invited merchants to deliver grain in return for salt certificates with which merchants drew salt as reward. The salt certificate therefore represented a national debt, denominated in salt, the government thereby owed merchants. A speculative market of salt certificates was created in Yangzhou and brought into being powerful financiers in the early 17th century. The government, financially hard pressed, abolished the speculative market of salt certificates by franchising these financiers in return for their hereditary obligation to pay salt certificate surcharge. China was therefore deprived of a possibility to develop a public debt market. This story is a testimony to Fernand Braudel's argument of the "nondevelopment" of Capitalism in China.