FINANCIAL LIBERALIZATION IN CHINA - Limitations and lessons of the Japanese regime

Thomas F Cargill and Elliott Parker

Journal of the Asia Pacific Economy, 2001, vol. 6, issue 1, 1-21

Abstract: China has reformed old socialist banking institutions, using the Japanese financial regime as a model. We explain why this regime can perform well in the short run but will ultimately lead to serious economic problems, as exemplified by the recent Asian financial crisis, and we explain the problems and consequences of financial liberalization. We conclude with a summary of lessons China's reformers should learn from the recent financial experiences of their Asian neighbors.

Date: 2001
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DOI: 10.1080/13547860020024503

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