Finance
Corruption and Social Mobility: Evidence from the Imperial Examination Reforms in the Northern Song Dynasty
Speaker:
Professor Yongxiang Wang
Chair Professor of Finance
Shanghai Advanced Institute of Finance (SAIF)
Shanghai Jiao Tong University
Abstract:
This paper provides the first causal evidence of corruption’s impact on social mobility—measured by the share of commoner jinshi—by examining two Northern Song dynasty reforms curbing corruption in the imperial examinations. A Difference-in-Differences analysis shows treated 10 prefectures saw a 24-percentage-point rise in commoner jinshi, a 44.4% greater chance for commoners to move up the social ladder. Peasant riot probability fell by 3.17 percentage points, a 75% drop from the mean. While reforms boosted mobility, nonelite jinshi demonstrated weaker long-term academic and political performance.
