Informal Finance In China
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Informal Finance In China
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Author : Jianjun Li
language : en
Publisher:
Release Date : 2009
Informal Finance In China written by Jianjun Li and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
Informal finance consists of nonbank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. It has provided much-needed financing to small and medium enterprises (SMEs) in particular, in the face of a tightly constrained and overburdened formal banking system. Unable to obtain a bank loan, firms have relied upon individuals and informal organizations outside of the banking system to obtain financing for their ventures or working capital (operating funds). Presently there is a scarcity of information on informal finance in China and it is expected to have a significant impact upon GDP and money supply. This book, with contributions from leading scholars, describes the evolution, characteristics, and variation of informal finance in China from American and Chinese perspectives. Literature by Jiang Shuxia, Jiang Xuzhao, and Li Jianjun has heretofore been available only in Chinese, while work by Kellee Tsai, Jianwen Liao, Harold Welsch, David Pistrui, and Sara Hsu has been available in English. For the first time, they come together to discuss informal financing and its many aspects. Most of the essays are based upon original survey research conducted locally, as this type of data is not normally collected by the government. The papers pioneer the description and analysis of the nuances of informal finance from several perspectives; the authors look at the social, cultural, political, and economic causes of informal finance, its many variations, and its economic, personal, and political ramifications.
Formal Versus Informal Finance Evidence From China
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Author : Vojislav Maksimovic
language : en
Publisher: World Bank Publications
Release Date : 2012
Formal Versus Informal Finance Evidence From China written by Vojislav Maksimovic and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
China is often mentioned as a counterexample to the findings in the finance and growth literature since, despite the weaknesses in its banking system, it is one of the fastest growing economies in the world. The fast growth of Chinese private sector firms is taken as evidence that it is alternative financing and governance mechanisms that support China's growth. This paper takes a closer look at firm financing patterns and growth using a database of 2,400 Chinese firms. The authors find that a relatively small percentage of firms in the sample utilize formal bank finance with a much greater reliance on informal sources. However, the results suggest that despite its weaknesses, financing from the formal financial system is associated with faster firm growth, whereas fund raising from alternative channels is not. Using a selection model, the authors find no evidence that these results arise because of the selection of firms that have access to the formal financial system. Although firms report bank corruption, there is no evidence that it significantly affects the allocation of credit or the performance of firms that receive the credit. The findings suggest that the role of reputation and relationship based financing and governance mechanisms in financing the fastest growing firms in China is likely to be overestimated.
Informal Finance In China
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Author : Jianjun Li
language : en
Publisher:
Release Date : 2009
Informal Finance In China written by Jianjun Li and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Finance categories.
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Banking Behind The State
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Author : Kellee S. Tsai
language : en
Publisher:
Release Date : 1999
Banking Behind The State written by Kellee S. Tsai and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Banks and banking categories.
Finance In Rural China
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Author : Xingyuan Feng
language : en
Publisher: Taylor & Francis
Release Date : 2023-03-24
Finance In Rural China written by Xingyuan Feng and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-24 with Business & Economics categories.
This book offers insights into the scholarly debates on formal and informal finance in rural China and fills a gap in the existing literature. The book provides an overview of the overall development of rural finance in China and explains the necessity of embarking on the pathway toward rural financial pluralization through the "Local Knowledge Paradigm". The authors also analyze formal and informal financial development and inclusive finance (including digital inclusive finance) in rural China in various dimensions. This book aids the understanding of the structure of the rural financial system and the operations of rural financial service providers in China. It will be a useful reference for those researching and interested in rural economy and rural finance.
Crowdfunding In China
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Author : Andrea S. Funk
language : en
Publisher: Springer
Release Date : 2019-02-01
Crowdfunding In China written by Andrea S. Funk and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-01 with Business & Economics categories.
China is currently the front-runner on the global crowdfunding market, even though this form of financing originated in the USA. Crowdfunding in China, however, differs significantly from its counterpart in the West. This book reveals that Chinese crowdfunding is a product of the country’s dynamic internet sector, which is based on mobile internet, e-commerce, and online/mobile payments, together with significant government support. The author presents a comprehensive theoretical, empirical and field-based work on crowdfunding in China. Adopting a new institutional economics approach, it maps and deciphers the origins and paths of informal finance that have led to internet finance and the rise of crowdfunding platforms. In addition, three case studies are analyzed and their implications for crowdfunding stakeholders in China are discussed.
Financial Institutions In Rural China
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Author : Tong Li
language : en
Publisher:
Release Date : 2005
Financial Institutions In Rural China written by Tong Li and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Agriculture categories.
Private Lending In China
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Author : Lerong Lu
language : en
Publisher: Routledge
Release Date : 2018-12-07
Private Lending In China written by Lerong Lu and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-07 with Business & Economics categories.
This book explores China’s private lending market from historical, economic, legal, and regulatory perspectives. Private lending refers to moneylending agreements between business borrowers and their debt investors without the involvement of banks. In China, it remains difficult for private entrepreneurs to obtain sufficient loans from state-owned banks. Thus, private lending has been a vital alternative financing channel for over 80 million businesses which are reliant on private funds as their major source of operating capital. The market volume of private financing stands at 5 trillion yuan ($783bn), making it one of the largest shadow banking systems in the world. Despite the wide popularity and systemic importance of private lending activities, they have remained outside of the official regulatory framework, leading to extra financial risks. In 2011, China’s private lending sector encountered a severe financial crisis, as thousands of business borrowers failed to repay debts and fell into bankruptcy. Lots of bosses who found it impossible to liquidate debts ran away to hide from creditors. The financial turmoil has caused substantial monetary losses for investors across the country, which triggered social unrest and undermined the financial stability. This book is a timely work intended to demystify China’s private lending market by investigating its historical development, operating mechanism, and special characteristics. It evaluates the causes and effects of the latest financial crisis by considering a number of real cases relating to helpless investors and runaway bosses. It conducts an in-depth doctrinal analysis of Chinese laws and regulations regarding private lending transactions. It also examines China’s ongoing financial reform to bring underground lending activities under official supervision. Finally, the book points out future development paths for the private lending market. It offers suggestions for global policymakers devising an effective regulatory framework for shadow banking. It appeals to researchers, lecturers, and students in several fields, including law, business, finance, political economy, public policy, and China study.
Essays On Money And Finance
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Author : Jiajin Huang
language : en
Publisher:
Release Date : 2019
Essays On Money And Finance written by Jiajin Huang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Business & Economics categories.
This book investigates and resolves some financial and monetary questions regarding Chinese economy. The first chapter examines the role of informal financing in China using a firm-level dataset of manufacture industry, and finds that low-risk informal finance exerts a positive effect on firms' performance. The second and third chapter focus on the measurement and effect of Chinese monetary policy. The autor establishes a new index by using a state space method, reflecting changes in various monetary instruments, which has both theoretical and empirical advantages. Then he investigates the effect of China's monetary policy shocks on its close trading partners in developing Asia with the GVAR method. China's influence has highly expanded even by monetary policy perspective.
Social Trust
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Author : Liu Weiping
language : en
Publisher: Springer Nature
Release Date : 2023-06-19
Social Trust written by Liu Weiping and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-19 with Business & Economics categories.
This book explores how social trust impacts the Chinese economy. Due to the profound social changes brought by rapid urbanization, China's traditional social trust system gradually weakens. How to rebuild and enhance social credit remains as a key and difficult project. Exploring case studies from the real estate market, private banking, and urban financing, this book explores the value of informal social links to the economic functions of a society and how to rebuild them when they erode. This is of interest to scholars of China's economy and society.