<?xml version="1.0" encoding="utf-8" standalone="yes"?><rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom"><channel><title>Li Yang | Macro Paper Warehouse</title><link>https://macropaperwarehouse.com/authors/li-yang/</link><description>Li Yang</description><generator>Hugo -- gohugo.io</generator><language>en-us</language><lastBuildDate>Thu, 01 Jan 2026 00:00:00 +0000</lastBuildDate><atom:link href="https://macropaperwarehouse.com/authors/li-yang/index.xml" rel="self" type="application/rss+xml"/><item><title>Property rights, fiscal capacity, and social capacity: The lasting impact of the Taiping Rebellion</title><link>https://macropaperwarehouse.com/papers/property-rights-fiscal-capacity-and-social-capacity-the-lasting-impact-of-the-taiping-rebellion/</link><pubDate>Thu, 01 Jan 2026 00:00:00 +0000</pubDate><guid>https://macropaperwarehouse.com/papers/property-rights-fiscal-capacity-and-social-capacity-the-lasting-impact-of-the-taiping-rebellion/</guid><description>&lt;p&gt;Research question and motivation: How do civil wars affect long-term development, and through which institutional mechanisms? The paper studies the Taiping Rebellion (1850-1864) in Qing China, one of history&amp;rsquo;s deadliest civil wars (at least ~20 million deaths, with some estimates of 70-100 million), as a critical juncture in China&amp;rsquo;s path to modernity. It matters because the rebellion generated large, persistent regional institutional variation that can help explain what the authors call the &amp;ldquo;Intra-China Divergence&amp;rdquo; — regional GDP-per-capita gaps as large as 27-to-1 (Dongguan vs. Tianshui, 2010) that rival the world&amp;rsquo;s largest inter-regional gaps.&lt;/p&gt;</description></item></channel></rss>