The Economic Effect Of Silver Currency To Ming Dynasty

In the 16th century, European colonists spread a lot of gold and silver from North America to the world with the discovery of the New World, which led a monetary revolution all over the world. Precious Metals replaced the Base metals to be primary currency. After a period of hyperinflation, Ming Dynasty established the silver standard with the massive inflow of silver. The silver standard had a profound impact to the Ming Dynasty, which is a research focus to Chinese and foreign scholars.This article use Econometric analysis to research the relations between the national income and the stock of silver or the price level of Ming Dynasty. Further more.reveal what affect the silver standard had to Ming Dynasty. According to results of this study, the silver stream had no role in promoting the national economy of Ming Dynasty, and there is no evidence to proof that the silver stream affect the price level of Ming Dynasty. On this basis, this study points out that corruption and the atmosphere of Cellaring silver from the mid-Ming Dynasty is the key reason for these result.