主管:教育部
主办:中国人民大学
ISSN 1002-8587  CN 11-2765/K
国家社科基金资助期刊

journal6 ›› 2006, Vol. 0 ›› Issue (1): 29-36.

• 学术专论 • 上一篇    下一篇

清代徽州土地与商业投资回报率的比较  汪崇筼

  

  • 出版日期:2006-02-15 发布日期:2006-02-15

 Comparative Study on the Rate of Return on Investment in Land and Commerce in Huizhou

  • Online:2006-02-15 Published:2006-02-15

摘要: 清代徽州购买水田(绝卖)的年度投资回报率仅为6.67%,而所举五个一般商业投资实例的年度投资回报率则在9—18%之间。这是因为,购买土地是对剩余生活资金所作的一种保本、保值式投资,与以赢利为目的的一般商业投资性质不同。交租式与交地式土地典当的年利率,则分别为25.73%和23.49%。这是一种特殊而不稳定的投资方式。受当方只获得抵押权,而未获得产权。其受当田地,要么被赎回,要么演变为绝卖。

Abstract: Based on historical records from Huizhou, this paper calcula tes the annual ratio of investment and profit on the absolute sales of paddy land was 6 67% prior to the Qianlong period Meanwhile, in the Ming- Qing dynasties, five ordinary examples of commerce in Huizhou demonstrate that the rate of return on investment ranged from 9 to 18% Purchasing land was one way to invest surplus capitals with the principle and interest safeguarded against price inflation .This was different from commercial investment that a mi ed at higher rates of return .The paper also examines two types of land investment in Huizhou prior to the Qianlong reign, land rent and rent on land that been conditionally sold ( dianmai ) .The annual ratios were 25 73% and 23 49% respectively, but this kind of investment was exceptional and very volatile.