From Scorned to Loved? The Political Economy of the Development of the Stock Market in China

Sonia Wong Man Lai and Yong Yang

Global Economic Review, 2009, vol. 38, issue 4, 409-429

Abstract: This paper explains how and why the stock market, which is regarded as the embodiment of capitalism, has been allowed to develop and gain a prominent place among China's financial markets. That development has been consistent with the changing vested interests of the central government in its attempts to collect quasi-fiscal revenue from the financial sector, reflecting the stock market's growing importance as a tax-collection venue.

Keywords: Stock market; capitalism; financial markets (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:taf:glecrv:v:38:y:2009:i:4:p:409-429

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DOI: 10.1080/12265080903391826

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