Monies of Account and Monetary Transition in China, Twelfth to Fourteenth Centuries

in Journal of the Economic and Social History of the Orient
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Abstract

Between the twelfth and the fourteenth centuries China’s monetary system shifted from a multiple currency system including paper notes, bronze coin, and uncoined silver to a unified paper currency system established by the Mongol Yuan dynasty. Consequently, China’s longstanding bronze coin standard was replaced by a new money of account denominated in silver. However, silver largely disappeared as a medium of exchange under Yuan rule. Instead, silver units of account were used to denominate paper currency. The monetary policies of the Mongol Yuan state established a silver unit of account that remained the monetary standard throughout China’s late imperial era.

Monies of Account and Monetary Transition in China, Twelfth to Fourteenth Centuries

in Journal of the Economic and Social History of the Orient

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