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。
Based on historical records from Huizhou, this paper calculates 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 aimed 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.
出处
《清史研究》
CSSCI
北大核心
2006年第1期29-36,共8页
The Qing History Journal
