中监为体、西监为用 or the specifics of Chinese bank regulation
The present paper aims to propose an explanation for the rationale behind the current banking regulatory arrangement in China. A now stable and relatively healthy banking system emerged largely unscathed from the financial crisis without relying much on recognised international best practices in bank supervision. China combines a strong regulatory hand together with a capital adequacy requirements stick, without much intervention of foreign or private institutions in the larger sense of the term. After an in-depth review of the Chinese framework we recognise that it is exactly this lip service to private monitoring mechanisms on top of restrictive regulators that allows for stability and growth - at least for now. China uses Chinese supervision as the core and western regulatory instruments as useful add-ons - a manner similar to the catch phrase used over a century ago to rejuvenate China.
|Date of creation:||Jun 2011|
|Date of revision:|
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- Bin Dong & Benno Torgler, 2010.
"The Causes of Corruption: Evidence from China,"
2010.72, Fondazione Eni Enrico Mattei.
- Bin Dong & Benno Torgler, 2010. "The Causes of Corruption: Evidence from China," CREMA Working Paper Series 2010-07, Center for Research in Economics, Management and the Arts (CREMA).
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"Rethinking Bank Regulation,"
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- Richard Podpiera, 2006. "Progress in Chinaâ€™s Banking Sector Reform; Has Bank Behavior Changed?," IMF Working Papers 06/71, International Monetary Fund.
- Sapienza, Paola, 2004. "The effects of government ownership on bank lending," Journal of Financial Economics, Elsevier, vol. 72(2), pages 357-384, May.
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