Economic Theory and Business Management ›› 2013, Vol. 33 ›› Issue (7): 25-38.
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CHEN Kun,LI Zhi-Bin
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陈昆,李志斌
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江苏省2013年度高校哲学社会科学基金项目(2013SJD790016)
Abstract: This paper followed the analysis framework of“financial pressuresgovernment conduct”to dissect the institutional roots of the collapse of the Ming Notes The collapse of the Ming Notes was rooted in system design flaws as the center of finance This system was designed to meet government expenditure requirements and to avoid financial crisis Other words, the financial pressures of the Ming led to system design flaws as the center of finance, currency overissuing Finally, the collapse of Ming Notes system resulted in the Ming Notes to be out of circulation Financial pressure was the norm in ancient and modern government Financial pressure did not necessarily lead to the government to take predatory monetary policy In the UK, the financial pressure of the King led to the Great Charter and the outbreak of the “glorious revolution” to limit the royal power In the Ming dynasty, this problem was thoughtprovoking why not go onto the road of institutional change under financial pressure
Key words: financial pressure , currency as the center of finance , currency overissue , depreciation of the Ming Notes , collapse of the Ming Notes system
摘要: 本文遵循“财政压力—政府行为”分析框架来剖析“大明宝钞”崩坏的制度根源。“大明宝钞”制度的崩坏根源于以财政为中心的宝钞制度设计缺陷。这种制度设计是为了满足政府财政开支需求与避免财政危机。易言之,明代财政压力促成了货币财政化的宝钞制度设计,导致了货币超发,最后致使宝钞崩坏并退出流通领域。财政压力是古今政府的常态。财政压力并非必然导致政府采取掠夺性的货币政策。在英国,国王的财政压力导致了以限制王权为目的的《大宪章》和“光荣革命”。明代中国,为何没有在财政压力之下走上制度变革之路,这个问题实在令人深思。
关键词: 财政压力 , 货币财政化;货币超发 , 宝钞贬值;宝钞制度崩坏
CHEN Kun,LI Zhi-Bin. FINANCIAL PRESSURE, CURRENCY OVERISSUE AND THE SYSTEM OF THE MING NOTES[J]. Economic Theory and Business Management, 2013, 33(7): 25-38.
陈昆,李志斌. 财政压力、货币超发与明代宝钞制度[J]. 经济理论与经济管理, 2013, 33(7): 25-38.
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http://jjll.ruc.edu.cn/EN/Y2013/V33/I7/25