Articles by Fabio Braggion, Alberto Manconi, and Haikun Zhu:

Can Credit Tightening Spur Social Unrest? Evidence from 1930s China

In 1933 the United States launched its Silver Purchase program, which raised silver prices worldwide, drained China’s silver stock, and caused credit to Chinese firms to contract sharply. In a new paper, economists at Tilburg and Bocconi universities use the incident as a natural experiment to examine whether economic shocks can trigger labor unrest and boost support for fringe political parties.  

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