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Can Seigniorage Revenue Keep China's Financial System Afloat?

Author

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  • Fry, M.J.

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.

Suggested Citation

  • Fry, M.J., 1997. "Can Seigniorage Revenue Keep China's Financial System Afloat?," Papers 97-09, University of Birmingham - International Financial Group.
  • Handle: RePEc:fth:birmif:97-09
    as

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    Keywords

    BANKS ; CHINA;

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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