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Capitalizing China
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Capitalizing China

Joseph P. H. Fan and Randall Morck

Abstract

China's economic boom over the last two decades has taken many analysts by surprise, given the ongoing role of central government planning. China's current growth trajectory suggests that the size of its economy could soon surpass that of the United States. Some argue that continued growth and the expanding middle class will ultimately exert pressure on the government to bring about greater openness of the financial market. To better understand China's recent economic performance, this book examines the distinctive system it has developed: “market socialism with Chinese characteristics.” While ... More

Keywords: economic boom, central government planning, expanding middle class, financial market, economic performance, market socialism, Chinese characteristics, free-market economy, state-owned enterprises, controlled business groups

Bibliographic Information

Print publication date: 2012 Print ISBN-13: 9780226237244
Published to Chicago Scholarship Online: September 2013 DOI:10.7208/chicago/9780226237268.001.0001

Authors

Affiliations are at time of print publication.

Joseph P. H. Fan, editor

Randall Morck, editor

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Contents

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I Financial System and Its Governance

2 China’s Financial System

Franklin Allen, Jun “QJ” Qian, Chenying Zhang, and Mengxin Zhao

II Governance of Stock Markets

III Capital Accumulation

5 Why Are Saving Rates So High in China?

Dennis Tao Yang, Junsen Zhang, and Shaojie Zhou

6 The Chinese Corporate Savings Puzzle

Bayoumi Tamim, Hui Tong, and Shang-Jin Wei

IV Public Finance

8Provincial and Local Governments in China

Roger H. Gordon and Wei Li