Capital market development in China

Capital market development in China

This paper examines why and how capital markets have developed in a low-income socialist country. It shows that the development is the response of economic agents operating under a more market-oriented economic environment with a highly regulated and inefficient banking system. This development has...

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Veröffentlicht in:World development 1991-05, Vol.19 (5), p.511-532
1. Verfasser: Tam, On Kit
Format: Artikel
Sprache:eng
Schlagworte:
Banking
Capital
Capital market
Capital markets
Capitalism
China
China (People's Republic)
China, People's Republic of
Development
Finance
Market
Socialism
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description This paper examines why and how capital markets have developed in a low-income socialist country. It shows that the development is the response of economic agents operating under a more market-oriented economic environment with a highly regulated and inefficient banking system. This development has presented new policy challenges and opportunities. The paper argues that the developmental effects of the emergence of capital markets in China can be as important as its impact on improving allocative efficiency and resource mobilization.
doi_str_mv 10.1016/0305-750X(91)90191-J
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1873-5991
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source RePEc; PAIS Index; Elsevier ScienceDirect Journals; Worldwide Political Science Abstracts; Periodicals Index Online
subjects Banking
Capital
Capital market
Capital markets
Capitalism
China
China (People's Republic)
China, People's Republic of
Development
Finance
Market
Socialism
title Capital market development in China
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