Palivos, Theodore and Wang, Ping and Yip, Chong (2011): The Colonization of Hong Kong: Establishing the Pearl of Britain-China Trade.
Download (391kB) | Preview
We construct a staged development framework with multi-period discrete choices to study the colonization of Hong Kong, which facilitated the trade of several agricultural and manufactured products, including opium, between Britain and China. The model is particularly designed based on historical data and documentation collected from various sources. We show theoretically how institutions changed in response to the underlying key primitives and lead to the transition from the pre-Opium War era, to the post-Opium War era and then to the post-opium trade era, which span the period 1773-1933. Finally, we support our theoretical findings with historical evidence.
|Item Type:||MPRA Paper|
|Original Title:||The Colonization of Hong Kong: Establishing the Pearl of Britain-China Trade|
|Keywords:||Colonial Economy, Opium Trade, Endogenous Policy and Institutions, Staged Development.|
|Subjects:||O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O53 - Asia including Middle East
E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E65 - Studies of Particular Policy Episodes
D - Microeconomics > D7 - Analysis of Collective Decision-Making > D78 - Positive Analysis of Policy-Making and Implementation
N - Economic History > N4 - Government, War, Law, International Relations, and Regulation > N40 - General, International, or Comparative
|Depositing User:||Theodore Palivos|
|Date Deposited:||16. Jul 2011 15:10|
|Last Modified:||13. Feb 2013 15:17|
Acemoglu, Daron, Simon Johnson, and James A. Robinson (2000) "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," Quarterly Journal of Economics, 117, 1231-1294.
Acemoglu, Daron, Simon Johnson and James A. Robinson (2001), "The Colonial Origins of Comparative Development," American Economic Review, 91, 1369-1401.
Acemoglu, Daron, Simon Johnson and James A. Robinson (2005a), "The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth," American Economic Review, 95, 546-579.
Acemoglu, Daron, Simon Johnson, and James A. Robinson (2005b) "Institutions as a Fundamental Cause of Development," in Philippe Aghion and Steven Durlauf (eds.), Handbook of Economic Growth, Elsevier, Amsterdam, The Netherlands, 386-347.
Acemoglu, Daron, and James A. Robinson (2000) "Why Did the West Extend the Franchise? Democracy, Inequality, and Growth in Historical Perspective," Quarterly Journal of Economics, 115, 1167-1199.
Acemoglu, Daron, and James A. Robinson (2001) "A Theory of Political Transitions," American Economic Review, 91, 938-963.
Acemoglu, Daron, and James A. Robinson (2008), "Persistence of Power, Elites, and Institutions," American Economic Review, 98, 267-293.
Bard, Solomon (1993), Traders of Hong Kong: Some Foreign Merchant Houses, 1841-1899, Urban Council, Hong Kong.
Bard, Solomon (2000), "Tea and Opium," Journal of the Royal Asiatic Society, Hong Kong Branch, 40, 1-19.
Baumler, Alan (2007), The Chinese and Opium under the Republic: Worse than Floods and Wild Beasts, State University of New York Press, Albany, NY, USA.
Blue, Gregory (2000), "Opium For China: The British Connection," in Opium Regimes, ed. by Timothy Brook and Bob Tadashi Wakabayashi, University of California Press, Berkeley and Los Angeles, CA, USA.
Brown, J. B. (1973), "Politics of the Poppy: The Society for the Suppression of the Opium Trade, 1874-1916," Journal of Contemporary History, 8, 97-111.
Dewatripont, Mathias and Gerard Roland (1992), "Economic Reform and Dynamic Political Constraints," Review of Economic Studies, 59, 703-30.
Gull, Edward Manico (1943), British Economic Interests in the Far East, Oxford University Press, London, UK.
Hanes, W. Travis III and Frank Sanello (2002), Opium Wars, Sourcebooks Inc., Naperville, Illinois, USA.
Hsiao, Liang-Lin (1974), China's Foreign Trade Statistics, 1864-1949, Harvard University Asia Center.
Lagerlof, Nils-Petter (2009), "Slavery and Other Property Rights," Review of Economic Studies, 76, 319-342.
Mitchell, B.R. (1988), British Historical Statistics, Cambridge University Press.
Morse, Hosea Ballou (1910), The International Relations of the Chinese Empire, vol.1, Longmans, London, U.K.
Nield, Robert (2010), The China Coast: Trade and the First Treaty Ports, Joint Publishing (H.K.) Co., Ltd, Hong Kong.
North, Douglass C. (1994), "Economic Performance Through Time: The Limits to Knowledge," American Economic Review, 84, 359-368.
North, Douglass C. (2006), Understanding the Process of Economic Change, Princeton University Press, Princeton, USA.
Pritchard, E.H. (1970), Anglo-Chinese Relations During the Seventeenth and Eighteenth Centuries, Octagon Books, New York, U.S.
Rowntree, Joshua (1905), The Imperial Drug Trade, Methuen and Co, London, U.K.
Tuck, Patrick J.N. (2000), Britain and the China Trade, 1635-1842, Routledge, New York, U.S.
Zhong, Wei-Min (2010), Tea and Opium: China in the Process of Economic Globalization in the Nineteenth Century, SDX Joint Publishing Company, Beijing, China (in Chinese).