This paper documents persistence in the power of elite families in Central China despite dynastic change. We study the impact of the fall of the Ming Dynasty (1368-1644) on couples and their descendants (treatment of people), and present evidence on the response of multigenerational family lines...

This study examines the short-, medium-, and long-term impacts of state censorship on knowledge production, focusing on the largest book-banning campaign in Chinese history, initiated during the compilation of the 'Siku Quanshu' (Complete Library in Four Sections) between 1772 and 1783....

The effect of drug prohibition on drug consumption is a critical issue in debates over drug policy. One episode that provides information on the consumption-reducing effect of drug prohibition is the Chinese legalization of opium in 1858. In this paper we examine the impact of China's opium...

This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada, China, France, Germany, Japan, India, Italy, the Netherlands, Sweden, the United Kingdom, and the United States. Together, the studies underscore the importance of path dependence, often as...

In this paper we trace the evolution of the lender of last resort doctrine--and its implementation--from the nineteenth century through the panic of 2008. We find that typically the most influential economists "fight the last war": formulating policy guidelines that would have dealt effectively...

A stylized fact of modern growth is that as countries become richer, education levels rise while family size decreases. This paper provides evidence that well before the onset of modern growth, changes in the return to education affected household choice of children's quantity versus quality....

We argue that China, with its long history, a relatively stable political system, and multiple regime changes, provides us an opportunity to investigate the political economy of administrative hierarchy. Using prefecture-level panel data and exploiting regime changes during AD1000-2000, we find...

Beliefs about whether effort pays off govern some of the most fundamental choices individuals make. This paper uses China's Cultural Revolution to understand how these beliefs can be affected, how they impact behavior, and how they are transmitted across generations. During the Cultural...

How do elites mobilize commoners to participate in a war? How does war mobilization affect elite power after the war? We argue that these two questions are interconnected, as elites mobilize war often because war benefits them. We demonstrate these relationships using the setting of the...

We assemble new data on the British and French concessions in Shanghai between 1845 and 1936 to assess the legal origins view of financial development. During this period, two regime changes altered the degree to which the British common and French civil law traditions held jurisdiction over the...