Structure and Changes of China’s Financial System

Omtale

By virtue of several theoretical models and hypotheses, this book is one of the earliest studies which systematically investigates the structure and changes of Chinas financial institutions. To begin with, it examines the relation between state utility function and Chinas economic growth, and reveals the formation and transition of Chinas state-owned financial institutional arrangements. Based on this analysis, the author studies the influence of monetization on the arrangements, and the financial support to Chinas gradual reform which have long been neglected by researchers. Also, the model of money demand that can explain the specific conditions of the gradual reform is built, as the neoclassical framework has been incapable of explaining Chinas financial performance. In the last chapter, it discusses the dilemma of property rights under the state-owned financial system, with the establishment of the credit equilibrium model and the dual model of bad debts. With insightful theoretical analysis and empirical researches, this book will appeal to scholars and students in finance, economics and economic history.