| Autor: |
Gerard Caprio, James R. Barth, Triphon Phumiwasana |
| Rok vydání: |
2009 |
| Předmět: |
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| Zdroj: |
China's Emerging Financial Markets ISBN: 9780387937687 |
| DOI: |
10.1007/978-0-387-93769-4_2 |
| Popis: |
Throughout the past three decades of fast growth, China has undergone tremendous structural changes in its economy and financial system. This chapter examines China's evolving financial landscape so as to assess whether it can catch up with or even drive economic growth. China has achieved remarkable growth over the past quarter of a century despite a relatively inefficient financial system. Just as the public sector around the world has not proved to be an efficient manager of enterprises, it also has not been an efficient manager of banks. A solution that would seem to work in theory would be to grow the private sector’s role in the banking system, using banks that operate on market principles as a way to continually starve inefficient enterprises of credit, while supplying credit to the productive enterprises. Finding a way to make this work in practice will require both finesse and good fortune on a scale commensurate with China’s growing importance in the world economy. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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