<p>This paper looks relevant: <a href="https://www.sciencedirect.com/science/article/abs/pii/0164070495801014" rel="nofollow noreferrer">https://www.sciencedirect.com/science/article/abs/pii/0164070495801014</a></p>
<p><strong>Abstract</strong><br />
&quot;This paper shows that the collapse of the paper money system of the Ming dynasty (1368–1644) was not due to a runway printing press but due to the existence of competing metallic currencies, which increased the interest elasticity of paper money demand and thus raised the possibility of self-generating hyperinflation. A leaning-with-the-wind feedback rule from prices to money supply followed by the Southern Sung government (1127–1279), however, seems to have prevented a self-generating inflation from arising.&quot;</p>

CC BY-SA 4.0
2022-01-07T20:50:00.677Z
2022-01-07T20:50:00.677Z
James Wattam
<p>Historically China adopted paper money very early but during Ming Dynasty paper money was replaced by silver coins.</p>
<p>I would like to know why, is there any authoritative source that looks at this issue?</p>

<reference-request><money><economic-history>
Is there any good source that explains Chiense early experiment with paper money?
Ezekiel
# Is there any good source that explains Chiense early experiment with paper money?

(Asked by: username_0 on 2021-12-27)

Historically China adopted paper money very early but during Ming Dynasty paper money was replaced by silver coins.

I would like to know why, is there any authoritative source that looks at this issue?

**Tags:** reference-request, money, economic-history


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## 1 answers

### Answer by username_1 on 2022-01-07. Score: 1

This paper looks relevant: <https://www.sciencedirect.com/science/article/abs/pii/0164070495801014>

**Abstract**  
"This paper shows that the collapse of the paper money system of the Ming dynasty (1368–1644) was not due to a runway printing press but due to the existence of competing metallic currencies, which increased the interest elasticity of paper money demand and thus raised the possibility of self-generating hyperinflation. A leaning-with-the-wind feedback rule from prices to money supply followed by the Southern Sung government (1127–1279), however, seems to have prevented a self-generating inflation from arising."


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