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The Initial Public Offering of the Industrial and Commercial Bank of China (ICBC)

In: The Chinese Economy

Author

Listed:
  • Franklin Allen

    (University of Pennsylvania)

  • Darien Huang

    (University of Pennsylvania)

  • Jun ‘QJ’ Qian

    (Boston College)

  • Mengxin Zhao

    (University of Alberta)

Abstract

The conventional wisdom before the financial crisis that started in 2007 suggested a link between financial openness and economic growth. Papers by Bekaert, Harvey and Lundblad (2005), Bekaert, Harvey, Lundblad and Siegel (2007) and Quinn and Toyoda (2008) have shown that financial liberalization promotes economic growth. Bekaert, Harvey and Lundblad (2011) provides additional evidence that financial openness improves the growth of factor productivity. They attribute these liberalization effects to the role of financial openness in stock market and banking sector development, and to changes in the quality of institutions.

Suggested Citation

  • Franklin Allen & Darien Huang & Jun ‘QJ’ Qian & Mengxin Zhao, 2012. "The Initial Public Offering of the Industrial and Commercial Bank of China (ICBC)," International Economic Association Series, in: Masahiko Aoki & Jinglian Wu (ed.), The Chinese Economy, chapter 9, pages 199-228, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-137-03429-8_10
    DOI: 10.1057/9781137034298_10
    as

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