The Rise of Shadow Banking in China: The Political Economy of Modern Chinese State Capitalism

Kellee Tsai ()
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Kellee Tsai: Division of Social Science, Hong Kong University of Science and Technology

No 2015-10, HKUST IEMS Thought Leadership Brief Series from HKUST Institute for Emerging Market Studies

Abstract: Kellee Tsai, Head & Chair Professor of HKUST's Division of Social Science, explores China’s response to the 2008 global financial crisis, after which time Chinese enterprises both large and small have engaged in unprecedented levels of off-balance sheet activities, which are now estimated to account for an astounding 26-69% of China's total GDP. Prof. Tsai analyses the major sources and scope of China's off-balance sheet lending, offering policy suggestions on how to reduce some of the risks associated with such "shadow banking" activities, such as increasing market access in the services sector and setting up channels for debt issuance by local governments.

Keywords: China; state capitalism; informal finance; shadow banking; financial development (search for similar items in EconPapers)
JEL-codes: G01 G18 G21 G28 (search for similar items in EconPapers)
Pages: 4 pages
Date: 2015-08, Revised 2015-08
New Economics Papers: this item is included in nep-ban, nep-cna and nep-tra
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Citations: View citations in EconPapers (1)

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