Imperial colonialism and shadow banking: Evidence from northeastern China, 1898–1911
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DOI: 10.1016/j.frl.2021.102001
Abstract: Abstract Using the history of northeastern China (1898–1911), this paper shows that imperial colonialism leads to specific lending patterns by contemporary firms and their debt-asset ratio. We further show that the debt-asset ratio mediates the… read more here.
Keywords: shadow banking; colonialism; imperial colonialism; northeastern china ... See more keywords