Can Seigniorage Revenue Keep China's Financial System Afloat?

M.J. Fry

Working Papers from University of Birmingham - International Financial Group

Abstract: The main problem that this paper addresses is that the people's bank of China and China's state-owned banks have undertaken and continue to undertake large quasi-fiscal activities. Transfers from the Chinese banking system in the form of interest subsidies and loan default averaged over 5% of GDP over the period 1992-94.

Keywords: BANKS; CHINA (search for similar items in EconPapers)
JEL-codes: E50 (search for similar items in EconPapers)
Pages: 25 pages
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:fth:birmif:97-09

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