Introduction

Chi Lo

A chapter in China After the Subprime Crisis, 2010, pp 1-12 from Palgrave Macmillan

Abstract: Abstract Consider this: Mr A. walks into a bank and asks for a mortgage loan to buy a home in a nice middle–high-income residential area. The loan officer asks Mr A. for proof of income to back the loan. But Mr A. mumbles and fails to provide any solid proof. The loan officer then asks Mr A. to confirm his repayment ability by merely stating that he makes $200,000 a month. Mr A. enters that figure on the mortgage application form and signs it. The loan officer then stamps the form and approves the loan. Mr A. happily walks away with a mortgage.

Keywords: Initial Public Offering; Mortgage Loan; Current Account Deficit; Asian Crisis; Chinese Stock Market (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-29896-5_1

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DOI: 10.1057/9780230298965_1

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