China’s financial system is characterized by the coexistence of both formal and informal finance,and informal finance appears to be more prevalent in the south of the country compared to the north.In this paper,we us...China’s financial system is characterized by the coexistence of both formal and informal finance,and informal finance appears to be more prevalent in the south of the country compared to the north.In this paper,we use the historical demarcation of rice-farming regions and the percentage area of rice sown to ascertain the regional distribution of rice farming in the south and wheat farming in the north in order to analyze the role of rice farming in the evolution of different types of financial institutions in China.We find that rice cultivation has a positive effect on informal financial development,though its impact on formal finance is insignificant.Unlike wheat farming,rice cultivation requires farmers to collaborate during busy farming seasons and necessitates the construction of irrigation systems.Such collaboration helped enhance an acquaintance society,in which both parties to transactions enforced the rules and contract terms of their own initiative,paving the way for informal finance.This paper not only demonstrates the cultural roots of the regional financial disparities in China but also expands the research on the ways in which farming practices from the past have shaped the development of China’s present financial markets.展开更多
With the rapid development of Chinese economy, the question of credit is becoming more and more important. Especially in China rural area, building a new socialist countryside needs the support of finance. While as we...With the rapid development of Chinese economy, the question of credit is becoming more and more important. Especially in China rural area, building a new socialist countryside needs the support of finance. While as we all known, the financial system in rural area is not effective enough to promote the productivity and the level of welfare of household.展开更多
基金sponsorships from the National Natural Science Foundation of China(Grant No.72273075,71703080)the MOE(Ministry of Education in China)Liberal Arts and Social Sciences Foundation(Grant No.21YJC790156)+2 种基金the Major Project of the Guangxi Academy for the Chinese National Community Awareness(Grant No.2020GXMGY0103)the General Project of the Provincial Natural Science Foundation of Shandong Province(Grant No.ZR2020MG063)the Qilu Young Scholars Program and Young Scholars Future Plan of Shandong University.
文摘China’s financial system is characterized by the coexistence of both formal and informal finance,and informal finance appears to be more prevalent in the south of the country compared to the north.In this paper,we use the historical demarcation of rice-farming regions and the percentage area of rice sown to ascertain the regional distribution of rice farming in the south and wheat farming in the north in order to analyze the role of rice farming in the evolution of different types of financial institutions in China.We find that rice cultivation has a positive effect on informal financial development,though its impact on formal finance is insignificant.Unlike wheat farming,rice cultivation requires farmers to collaborate during busy farming seasons and necessitates the construction of irrigation systems.Such collaboration helped enhance an acquaintance society,in which both parties to transactions enforced the rules and contract terms of their own initiative,paving the way for informal finance.This paper not only demonstrates the cultural roots of the regional financial disparities in China but also expands the research on the ways in which farming practices from the past have shaped the development of China’s present financial markets.
基金Heilongjiang Social and Science Project(06DO18)Educational Bureau of Heilongjiang Province(11522081)
文摘With the rapid development of Chinese economy, the question of credit is becoming more and more important. Especially in China rural area, building a new socialist countryside needs the support of finance. While as we all known, the financial system in rural area is not effective enough to promote the productivity and the level of welfare of household.
