China S Financial Transition At A Crossroads

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China's Financial Transition at a Crossroads

Charles W Calomiris
China s Financial Transition at a Crossroads Book PDF

Author : Charles W Calomiris
Publisher : Columbia University Press
Page : 433 pages
File Size : 53,7 Mb
Release : 2007-07-06
Category : Business & Economics
ISBN : 9780231512091

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China's Financial Transition at a Crossroads by Charles W Calomiris Pdf

China's increasing role in global economic affairs has placed the country at a crossroads: how many and what types of international capital-market transactions will China permit? How will China's financial system change internally? What kind of relationships will the Chinese government develop with foreign financial institutions, especially with those based in the United States? Can China broker a sustainable partnership with America that will avoid sending economic shock waves throughout the world? Drawing on the contemporary research of prominent international scholars, the experts in this volume outline the trajectory of China's financial markets since the advent of reform and anticipate their uncertain future. Chapter authors and commentators include Geert Bekaert, Loren Brandt, Lee Branstetter, Mary Wadsworth Darby, Michael DeStefano, Barry Eichengreen, Campbell Harvey, Fred Hu, Xiaobo Lu, Christian Lundblad, Ailsa Roell, Daniel Rosen, Shang-Jin Wei, Jialin Yu, and Xiaodong Zhu. The book begins with an overview of the history of financial-sector development, regulation, and performance and then focuses on the banking sector, discussing the progress, challenges, and prospects of current sector reform. Subsequent chapters describe the role of foreign capital in China's development and analyze the changes in capital flows and controls over time; explore various explanations for China's composition of foreign-capital and foreign-exchange policies, particularly the factors shaping China's reliance on foreign direct investment; and provide an international, comparative perspective on the remarkable growth experience of China and the contribution of its institutional environment to that experience. Contributors dispute the belief that stock market listing has done little to reform state-owned enterprises and take a hard look at the exchange rate regime choice for China, considering the potential long-run desirability of flexibility and the appropriate sequencing of reforms in foreign-exchange policy, domestic banking reform, and capital-market openness. The book concludes with a roundtable discussion in which prominent economists, including Peter Garber, Robert Hodrick, John Makin, David Malpass, Frederic Mishkin, and Eswar Prasad, debate the pace of the appreciation of China's currency and the likely consequences of that policy within and outside of China.

Financial Systems at the Crossroads

Wing Thye Woo,Yingli Pan,Jeffrey D Sachs,Junhui Qian
Financial Systems at the Crossroads Book PDF

Author : Wing Thye Woo,Yingli Pan,Jeffrey D Sachs,Junhui Qian
Publisher : World Scientific
Page : 404 pages
File Size : 41,5 Mb
Release : 2014-04-16
Category : Business & Economics
ISBN : 9789814566902

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Financial Systems at the Crossroads by Wing Thye Woo,Yingli Pan,Jeffrey D Sachs,Junhui Qian Pdf

Financial Systems at the Crossroads: Lessons for China is written by leading financial experts to study the causes of financial disasters internationally. The research team is drawn from the global research networks of three leading universities: the Antai College of Economics and Management at Shanghai Jiao Tong University, the School of Economics at Fudan University, and the Earth Institute at Columbia University. This review volume identifies the regulatory framework to guide the emergence of efficient financial institutions that are prudent; and to specify the required institutional mechanisms to prevent and resolve systemic collapse. It examines the specific circumstances of China to come up with a comprehensive agenda to reform China's financial sector. It provides in-depth analysis of China's financial industry to show its future evolution and offers lessons for developing a financial system that is efficient, innovative and resilient. Contents:Analytical Overview:Mobilizing China's Financial Sector Efficiently and Safely for Sustaining Economic Transformation and Strengthening Global Financial Stability (Yingli Pan, Jeffrey D Sachs, Wing Thye Woo and John Qi Zhu)Understanding the Important Lessons from the International Experience:Wall Street Lawlessness (Jeffrey D Sachs)Systemic Lack of Prudence in Wealthy Nations: Avoiding the Dark Side of Financial Development (Peter Boone and Simon Johnson)Lessons from the Financial Liberalization in the Nordic Countries in the 1980s (Seppo Honkapohja)Asian Financial Markets and Financial Internationalization in China (Kiyohiko G Nishimura)Tokyo's Ultimately Failed Bid for First Tier International Financial Centre Status: Why Did It Fall Short and What are the Lessons for Shanghai? (Huw McKay)Designing the Right Financial System for China:The Great Accommodation: Chinese Central Banking in the New Millennium (Junhui Qian and Wing Thye Woo)The Structural Friction in China's Banking System: Causes, Measurement and Solutions (Hongzhong Liu and Tai Qin)Credit Rationing, Bank Bailouts, and the Deleterious Impact of Credit: Evidence from China (Jean Louis Arcand)The Options for Reforming the Renminbi Exchange Rate Regime (Xinru Wu, Yingli Pan, Zhichao Zhang, Jing Nie and Si Zhou)The Internationalization of the Renminbi is in Accordance with China's National Interests and Global Responsibilities (Yingli Pan, Yingfeng Xu and Jun Wu)Reforming China's Rural Financial Market (Xi Zhu) Readership: Graduate students and researchers in financial industry, financial analysts and China-watchers. Keywords:Financial Systems;Chinese Economy;US Economy;Financial Development;Nordic Countries;China Central Banking;Renminbi Exchange RateKey Features:Written by leading financial experts from the global research networks of Shanghai Jiao Tong University, Fudan University and Columbia UniversityStudies the causes of financial disasters internationallyExamines the specific circumstances of China to come up with a comprehensive agenda to reform China's financial sectorProvides in-depth analysis of China's financial industry to show its future evolutionOffers lessons for developing a financial system that is efficient, innovative and resilient

China’s Financial Opening

Yu Wai Vic Li
China s Financial Opening Book PDF

Author : Yu Wai Vic Li
Publisher : Routledge
Page : 212 pages
File Size : 44,8 Mb
Release : 2018-03-13
Category : Social Science
ISBN : 9781351750165

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China’s Financial Opening by Yu Wai Vic Li Pdf

The twenty-first century has not only seen China become one of the world’s largest trading nations, but also its gradual integration into the global financial system. Chinese-sponsored project financing schemes, such as the Belt-and-Road Initiative and the Asian Infrastructure Investment Bank, and the expanding international footprint of the renminbi, have raised the specter of Beijing shaping established market rules and practices with its financial firepower. These dramatic developments beyond the "Great Wall of Money" have overshadowed the equally remarkable opening of China’s domestic capital markets. These include initiatives that make cross-border equity trade and investment easier; attempts to internationalize exclusively domestic-oriented equity markets; and creation of the first offshore renminbi hub in Hong Kong, paving the way for the "big bang" of renminbi use worldwide. Li interrogates the domestic political dynamics underlying the dizzying switches between liberalization and restriction. This book argues that the interplay between the pro-opening coalitions and dissenting parties has been central to the policymaking process. Financial opening has not only been driven by central bureaucratic actors, but also by financial industry interests and the local authorities of financial centers acting in concert as coalitions. The local and financial constituents have shaped policy agendas and priorities, and defined and framed liberalizing initiatives in ways that appealed to bureaucratic entities. They also sought wider political support by capitalizing on connections with top decision-making elites. To allay opposition and maintain political and technical consensus, the coalition constituents have offered concessions to dissenting parties over implementation specifics. This, however, has not always succeeded. Dissenting parties who recognized adverse distributional and policy risk implications inherent in the opening initiatives might decline concessionary offers, leading to policy tendencies other than opening. As one of the very first political economy contributions to studies of China’s financial opening from the 2000s, this book will appeal to researchers of international political economy, East Asia and China specialists, and financial practitioners and policymakers wanting to make sense of the country’s liberalizing logic.

China's Banking Transformation

James Stent
China s Banking Transformation Book PDF

Author : James Stent
Publisher : Oxford University Press
Page : 305 pages
File Size : 53,9 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780190497033

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China's Banking Transformation by James Stent Pdf

China's Banking Transformation describes the strengths and weaknesses of the Chinese banking system based on the author's 12 years serving on two Chinese bank boards

Chinese Management in the 'Harmonious Society'

Malcolm Warner,Chris Rowley
Chinese Management in the Harmonious Society Book PDF

Author : Malcolm Warner,Chris Rowley
Publisher : Routledge
Page : 240 pages
File Size : 48,8 Mb
Release : 2013-10-18
Category : Business & Economics
ISBN : 9781317965848

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Chinese Management in the 'Harmonious Society' by Malcolm Warner,Chris Rowley Pdf

Whither Chinese management? The Middle Kingdom has come a long way since the economic reforms were introduced after 1978. As ownership has opened up and has become more fragmented, the state-owned firms no longer dominate the scene, nor does their management model. Managing has also become more complex and diversified, as well as more professional. This book asks what the next steps are likely to be and will assess the current directions in which Chinese managers are developing, as its economy slows down in the face of global uncertainty. It aims to update previous works in the field covering business and management in these countries. It covers a wide range of topics, including banking, competition, employee satisfaction, expatriates, industrial relations, HRM, organization, SMEs, social responsibility, strategic sourcing, trust and so on. The book also asks in which future directions management may be moving in this important part of the international economy. The authors are all experts in their fields and are all based in universities and business schools in countries such as Australia and the UK, among others. The work is aimed at undergraduate and postgraduate students in business administration especially those on MBA programmes, as well as those studying development economics, management studies and related courses, including lecturers in those subjects. This book was published as a special issue of Asia Pacific Business Review.

Governance in Pacific Asia

Peter Ferdinand
Governance in Pacific Asia Book PDF

Author : Peter Ferdinand
Publisher : Bloomsbury Publishing USA
Page : 233 pages
File Size : 48,7 Mb
Release : 2012-02-02
Category : Political Science
ISBN : 9781441105912

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Governance in Pacific Asia by Peter Ferdinand Pdf

This book examines the political economy of the states of Pacific Asia, stretching from Japan to Burma since the end of WWII. "Governance in Pacific Asia" offers a comprehensive account of the diverse experiences of the states in Pacific Asia. Organized thematically around government and business relations in the main sectors of the economy, chapters cover the historical, social, and cultural contexts for such policies as well as the social and political consequences of rapid economic development. They also discuss the increasing economic integration of the region as well as its impact on global affairs and the reverse effect of globalization upon particular political systems. Each chapter contains case studies and examples from anywhere in the region, with some countries appearing more regularly, such as China, Japan, newly industrialized economies, Thailand, the Philippines, Malaysia, Indonesia and Vietnam. "Governance in Pacific Asia" provides an in-depth comparative survey of a key region in world politics and political economy. An essential text that includes sources from the region in at least three languages (Chinese, Japanese, and Indonesian/Malay), it will be of interest to students and faculty in international relations, developmental politics, Asian politics, and political economy.

The Role of Law and Regulation in Sustaining Financial Markets

Niels Philipsen,Guangdong Xu
The Role of Law and Regulation in Sustaining Financial Markets Book PDF

Author : Niels Philipsen,Guangdong Xu
Publisher : Routledge
Page : 368 pages
File Size : 44,9 Mb
Release : 2014-11-13
Category : Business & Economics
ISBN : 9781317750390

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The Role of Law and Regulation in Sustaining Financial Markets by Niels Philipsen,Guangdong Xu Pdf

This book explores the role of law and regulation in sustaining financial markets in both developed and developing countries, particularly the European Union, United States and China. The central argument of this book is that law matters for the operation of financial markets, which, in turn, significantly influences the performance of firms, industries, and economies. The Role of Law and Regulation in Sustaining Financial Markets is divided into four parts. Part one addresses the connection between law, financial development, and economic growth. Part two deals with the role of financial regulation, which can be used to correct market failures, such as negative externalities, information asymmetries, and monopolies. Part three focuses on the design, functioning, and performance of different financial instruments. Part four examines the topic of Corporate Social Responsibility. This book contributes to the ‘law and finance’ literature by studying certain conventional issues, such as the relationship between finance and economic growth, and the effects of regulatory quality on financial development, from new perspectives and/or with new evidence, data, and cases. It also explores novel topics, such as project finance contracts, insurance and climate change, the shadow banking system, that have been overlooked in current literature. This book is meaningful not only for the EU and the US, which have suffered considerably from the financial crisis of 2008, but also for China, which is struggling to build a sound institutional infrastructure to govern its increasingly complicated financial system. By comparing the regulatory philosophies and practices of the EU, the US and China, this book will help the reader to understand the diverse nature of the global ‘law and finance’ nexus and avoid succumbing to the myth of "one size fits all".

The Handbook of China's Financial System

Marlene Amstad,Guofeng Sun,Wei Xiong
The Handbook of China s Financial System Book PDF

Author : Marlene Amstad,Guofeng Sun,Wei Xiong
Publisher : Princeton University Press
Page : 504 pages
File Size : 41,6 Mb
Release : 2020-11-17
Category : Business & Economics
ISBN : 9780691205847

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The Handbook of China's Financial System by Marlene Amstad,Guofeng Sun,Wei Xiong Pdf

A comprehensive, in-depth, and authoritative guide to China's financial system The Chinese economy is one of the most important in the world, and its success is driven in large part by its financial system. Though closely scrutinized, this system is poorly understood and vastly different than those in the West. The Handbook of China’s Financial System will serve as a standard reference guide and invaluable resource to the workings of this critical institution. The handbook looks in depth at the central aspects of the system, including banking, bonds, the stock market, asset management, the pension system, and financial technology. Each chapter is written by leading experts in the field, and the contributors represent a unique mix of scholars and policymakers, many with firsthand knowledge of setting and carrying out Chinese financial policy. The first authoritative volume on China’s financial system, this handbook sheds new light on how it developed, how it works, and the prospects and direction of significant reforms to come. Contributors include Franklin Allen, Marlene Amstad, Kaiji Chen, Tuo Deng, Hanming Fang, Jin Feng, Tingting Ge, Kai Guo, Zhiguo He, Yiping Huang, Zhaojun Huang, Ningxin Jiang, Wenxi Jiang, Chang Liu, Jun Ma, Yanliang Mao, Fan Qi, Jun Qian, Chenyu Shan, Guofeng Sun, Xuan Tian, Chu Wang, Cong Wang, Tao Wang, Wei Xiong, Yi Xiong, Tao Zha, Bohui Zhang, Tianyu Zhang, Zhiwei Zhang, Ye Zhao, and Julie Lei Zhu.

Economics and Regulation in China

Michael Faure,Guangdong Xu
Economics and Regulation in China Book PDF

Author : Michael Faure,Guangdong Xu
Publisher : Routledge
Page : 366 pages
File Size : 50,8 Mb
Release : 2013-10-15
Category : Business & Economics
ISBN : 9781134623006

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Economics and Regulation in China by Michael Faure,Guangdong Xu Pdf

This book, from a top international group of scholars, explores the ways in which economic tools can be used to improve the quality of regulation in general and legislative tools in particular. As the role of law becomes increasingly important in China, the question arises of how effective regulatory and legislative tools can be developed to accompany the Chinese evolution towards a welfare state. China therefore provides a unique case study for scholars and policymakers interested in examining how regulation can play a role in promoting sustainable development. Economics and Regulation in China goes beyond traditional economic analysis of law by focusing specifically on the question of how economic tools can guide the quality of legislation. To this end, the book centres in on three areas: regulation as a tool of economic growth, competition policy and environmental policy. Not only are these three domains of great importance for China, but they are also relevant for a broad scholarship interested in the economic analysis of law. This volume contributes to discussions on how ex-ante evaluation of legislative proposals and ex-post analysis can increase the effectiveness and efficiency of regulation, using economic tools, offering insights that go beyond the particular case of China. The analysis offered by this book makes it an invaluable resource for academics and policymakers alike.

China and India in the Age of Globalization

Shalendra D. Sharma
China and India in the Age of Globalization Book PDF

Author : Shalendra D. Sharma
Publisher : Cambridge University Press
Page : 337 pages
File Size : 47,6 Mb
Release : 2009-07-20
Category : Business & Economics
ISBN : 9780521515719

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China and India in the Age of Globalization by Shalendra D. Sharma Pdf

This book explores how the interplay of socio-historical, political, and economic forces has transformed China and India into economic powerhouses.

Market Integration: The EU Experience and Implications for Regulatory Reform in China

Niels Philipsen,Stefan E. Weishaar,Guangdong Xu
Market Integration The EU Experience and Implications for Regulatory Reform in China Book PDF

Author : Niels Philipsen,Stefan E. Weishaar,Guangdong Xu
Publisher : Springer
Page : 317 pages
File Size : 45,9 Mb
Release : 2015-11-06
Category : Law
ISBN : 9783662482735

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Market Integration: The EU Experience and Implications for Regulatory Reform in China by Niels Philipsen,Stefan E. Weishaar,Guangdong Xu Pdf

This book examines the relationship between regulation and market integration, with a special focus on China. It pursues a Law and Economics and Comparative Law approach (China and EU) to analyze the current obstacles to market integration and domestic economic growth in China. Topics covered at the national level include competition law, public procurement rules and financial regulation. At the regional and local level, this book addresses questions related to administrative monopolies, self-regulation, legal services markets, and environmental law.

Financial Contagion

Rob Quail
Financial Contagion Book PDF

Author : Rob Quail
Publisher : John Wiley & Sons
Page : 570 pages
File Size : 47,7 Mb
Release : 2011-02-09
Category : Business & Economics
ISBN : 9781118016527

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Financial Contagion by Rob Quail Pdf

"Financial Contagion: The Viral Threat to the Wealth of Nations covers a lot of territory. It is, of course, terribly important to analyze case histories to discover potential triggers, mechanisms of transmission, and viable ways to contain the damage of financial contagion. The problem is, as these articles amply demonstrate, that there’s always a new virus or a mutation of a former one lurking in some corner of the financial world. We don’t know what it is or where it is. And, even if we had some inkling, there’s almost never enough time to develop a financial flu shot." --SeekingAlpha.com The latest insights on financial contagion and how both nations and investors can effectively deal with it. The domino-style structure in which the financial system exists is a perilous one. Although historically, the financial system has been able to deal with major shocks, the fact remains that our financial system is not as secure as it should be. Recent years have brought about too many examples of contagion and systemic risk. That is why Financial Contagion is such an important read. In it, the serious concerns that revolve around our fragile economic system are investigated, researched, and explained. Throughout the book, Kolb offers valuable insights on this dilemma as he compiles the history of financial contagion, highlights the latest research on systemic failure and interrelated markets, and analyzes the risks and consequences we face moving forward. Examines the importance of careful regulation and what must be done to stabilize the global financial system Includes contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Details how close we are to witnessing a financial contagion that could devastate the world economy We have been harshly reminded of how fragile our economic ecosystem is. With Financial Contagion, you'll hold a better understanding of what needs to be done to strengthen our system and safeguard our financial future.

Institutional Diversity and Innovation

Cornelia Storz,Sebastian Schäfer
Institutional Diversity and Innovation Book PDF

Author : Cornelia Storz,Sebastian Schäfer
Publisher : Routledge
Page : 318 pages
File Size : 49,9 Mb
Release : 2011-05-27
Category : Business & Economics
ISBN : 9781136715471

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Institutional Diversity and Innovation by Cornelia Storz,Sebastian Schäfer Pdf

The concept of "innovation systems" has gained considerable attention from scholars and politicians alike. The concept promises not only to serve as a tool to explain sustained economic development, but also to provide policy-makers with scientifically grounded policy options to advance the growth of economies. The thrust of much recent literature has been to review existing empirical findings in order to deduce "best practice" models which are assumed to benefit all countries in a similar fashion. However, as this book argues, such ‘universal’ models often fail in both analysis and policy prescriptions, as they do not take into account sufficiently the circumstances and development trajectories of particular countries. With a foreword by Richard Whitley, this book discusses the extent to which the diagnoses and reform recommendations of recent work on innovation theory, and the related policy recommendations, actually apply to Japan and China. Making links between behavioural economics and institutional analysis, the book covers their regulatory framework, legal and science system, the labour and capital market, and intra-firm relations. It examines the present design and reasons underlying the Japanese and Chinese innovation systems, and based on those findings, emphasises the necessity for reform to secure the future competitiveness of both countries. The book is introduced by a foreword by Richard Whitley, Professor of Organisational Sociology at Manchester Business School.

Banking in China

V. Cousin
Banking in China Book PDF

Author : V. Cousin
Publisher : Springer
Page : 334 pages
File Size : 54,6 Mb
Release : 2011-05-25
Category : Business & Economics
ISBN : 9780230306967

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Banking in China by V. Cousin Pdf

Chinese banks have been making headlines recently, but what lies beneath? Banking in China appears different. What explains the current arrangement? What can we expect from such a banking industry in the future? This book answers these two questions in a fully revised second edition and contributes to a new understanding of Chinese banks.

REFORMING CHINA'S GOVERNMENT

Charles F. Bingman
REFORMING CHINA S GOVERNMENT Book PDF

Author : Charles F. Bingman
Publisher : Xlibris Corporation
Page : 303 pages
File Size : 45,5 Mb
Release : 2010-01-09
Category : Political Science
ISBN : 9781450018425

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REFORMING CHINA'S GOVERNMENT by Charles F. Bingman Pdf

Charles F. Bingman had a 30-year career as a US Federal government manager and executive. He taught public management for 25 years at the George Washington University and the Johns Hopkins University Washington Center. He has done consulting assignments with various organizations in China, Japan, the Russian Federation, Botswana, the Palestinian Authority, Kazakhstan, and ten other countries. He has published Japanese Government Leadership and Management and his most recent book Why Governments Go Wrong was published in 2006.