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

Nicholas Borst and Nicholas Lardy ()
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Nicholas Borst: Federal Reserve Bank of San Francisco
Nicholas Lardy: Peterson Institute for International Economics

No WP15-4, Working Paper Series from Peterson Institute for International Economics

Abstract: 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.

Keywords: financial development; government policy and regulation (search for similar items in EconPapers)
JEL-codes: G18 G21 (search for similar items in EconPapers)
Date: 2015-03
New Economics Papers: this item is included in nep-ban, nep-cba, nep-cna and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:iie:wpaper:wp15-4

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