Doctoral Dissertation Research in Economics: Modern Financial Markets and Macroeconomic Growth in Historical Context

经济学博士论文研究：历史背景下的现代金融市场和宏观经济增长

• 批准号: 1919402
• 负责人: Kenneth Pomeranz
• 金额: $ 1.85万
• 依托单位: University of Chicago
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2019
• 资助国家: 美国
• 起止时间: 2019-09-01 至 2021-08-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=1919402&HistoricalAwards=false
• 关键词: Doctoral; Dissertation; Research; Economics; Modern

This doctoral dissertation research improvement grant will fund data collection for a study of the relationship between between modern financial markets and macroeconomic growth. The goal is to understand the role a vigorous and competitive financial system can play in facilitating economic development. The PI will develop a new data set using historical records and will use the data to test theories about the relationship between financial markets, politics, and economic development. The results will help us understand the advantages of economic liberalization for global economic well-being.The doctoral student will focus his efforts on a specific promising case: Sichuan, China from 1933 to 1942. During this period, China made efforts to build a financial sector capable of accumulating capital and funding needed industrialization. Sichuan was China's most populous province, and the local government experimented with fiat currency and initiatives to expand the capital base of the private banking sector. The project will use archival records to construct data on Sichaun's prewar financial system, including regional interest rates, exchange rates, prices of local government debt, and balances of banknotes outstanding, as well as variables measure the political and infrastructure landscape. The team will use the data to determine the role of private enterprise in spurring the early stages of economic growth in Sichuan. The results may therefore be transformative for our understanding of the importance of economic liberalization around the globe.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.

该博士论文研究改进补助金将资助数据收集，以研究现代金融市场与宏观经济增长之间的关系。目标是了解充满活力和竞争力的金融体系在促进经济发展方面可以发挥的作用。 PI 将利用历史记录开发一个新的数据集，并将使用这些数据来测试有关金融市场、政治和经济发展之间关系的理论。研究结果将帮助我们了解经济自由化对全球经济福祉的优势。博士生将集中精力研究一个有希望的具体案例：1933年至1942年的中国四川。在此期间，中国努力建设金融体系能够积累工业化所需资本和资金的部门。四川是中国人口最多的省份，当地政府尝试使用法定货币并采取举措扩大私人银行业的资本基础。该项目将利用档案记录构建四川战前金融体系的数据，包括地区利率、汇率、地方政府债务价格、流通纸币余额，以及衡量政治和基础设施状况的变量。该团队将利用这些数据来确定私营企业在刺激四川早期经济增长中的作用。因此，结果可能会改变我们对全球经济自由化重要性的理解。该奖项反映了 NSF 的法定使命，并通过使用基金会的智力价值和更广泛的影响审查标准进行评估，被认为值得支持。