The Risk Premium Differential in Japanese-Era Taiwan and its Effect - 10.1628/0932456022975312 - Mohr Siebeck
Economics

Kelly B. Olds

The Risk Premium Differential in Japanese-Era Taiwan and its Effect

Volume 158 () / Issue 3, pp. 441-463 (23)

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During the Japanese era, there was a lower risk premium in northern Taiwanese capital markets than in southern markets. Evidence suggests this was due to superior informal institutions in the north. As a result, northern property rights were better defined, northerners were less dependent on formal credit markets and landless farmers who had less access to formal markets were at a smaller disadvantage in the north than in the south.
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Kelly B. Olds No current data available.