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Evolution of China's financial system and its impact on economic development

  • Lino Sau
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In this paper, I try to show and emphasise how China has adopted alternative economic policies in the transition and in the evolution of its financial system. In fact, the �step by step� or �gradualism� approach followed is in contrast to the fashionable idea that indiscriminately prescribes market-oriented financial system architecture to emerging and transition economies, and is, I believe, more close to the financial policies recommended by Post-Keynesians.

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Article provided by Inderscience Enterprises Ltd in its journal Int. J. of Economic Policy in Emerging Economies.

Volume (Year): 5 (2012)
Issue (Month): 1 ()
Pages: 1-15

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Handle: RePEc:ids:ijepee:v:5:y:2012:i:1:p:1-15
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  1. Levine, Ross, 1996. "Financial development and economic growth : views and agenda," Policy Research Working Paper Series 1678, The World Bank.
  2. Eswar Prasad & Shang-Jin Wei, 2007. "The Chinese Approach to Capital Inflows: Patterns and Possible Explanations," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices and Consequences, pages 421-480 National Bureau of Economic Research, Inc.
  3. Lino Sau, 2003. "Banking, information, and financial instability in Asia," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 25(3), pages 493-513, March.
  4. Fernando J. Cardim De Carvalho, 2001. "The IMF as Crisis Manager: An Assessment of the Strategy in Asia and of Its Criticisms," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 23(2), pages 235-266, January.
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  10. Salvatore Capasso, 2003. "Financial Markets Development And Economic Growth: Tales Of Informational Asymmetries," Working Papers 2_2003, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
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  13. McMillan, John & Naughton, Barry, 1992. "How to Reform a Planned Economy: Lessons from China," Oxford Review of Economic Policy, Oxford University Press, vol. 8(1), pages 130-43, Spring.
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  16. Ross Levine, 2002. "Bank-Based or Market-Based Financial Systems: Which is Better?," William Davidson Institute Working Papers Series 442, William Davidson Institute at the University of Michigan.
  17. McMillan, John, 1994. "China’s Nonconformist Reforms," Institute on Global Conflict and Cooperation, Working Paper Series qt9cn9b13c, Institute on Global Conflict and Cooperation, University of California.
  18. Williamson, John, 2000. "What Should the World Bank Think about the Washington Consensus?," World Bank Research Observer, World Bank Group, vol. 15(2), pages 251-64, August.
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