Maintaining Financial Stability in the People's Republic of China During Financial Liberalization | Zendy

Nicholas Borst | Zendy; Nicholas R. Lardy | Zendy

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Maintaining Financial Stability in the People's Republic of China During Financial Liberalization

Author(s) -

Nicholas Borst,

Nicholas R. Lardy

Publication year - 2015

Publication title -

ssrn electronic journal

Language(s) - English

Resource type - Journals

ISSN - 1556-5068

DOI - 10.2139/ssrn.2588543

Subject(s) - china , financial system , financial stability , people's republic , business , finance , indirect finance , financial ratio , economics , political science , law

The banking system of the People's Republic of China (PRC) is now the largest in the world, and its capital markets are rapidly approaching the size of those in the advanced economies. This paper traces the evolution of the PRC's financial system away from a traditional bank-dominated and state-directed financial system toward a more complex, market-based system and analyzes the optimal sequence of financial reforms needed to manage the new risks accompanying this evolution.

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