Shadow Banking and the Rise of Capitalism in China

This book is about the growth of shadow banking in China and the rise of China’s free markets.

Shadow Banking and the Rise of Capitalism in China

Author: Andrew Collier

Publisher: Springer

ISBN: 9811029962

Page: 205

View: 445

This book is about the growth of shadow banking in China and the rise of China’s free markets. Shadow Banking refers to capital that is distributed outside the formal banking system, including everything from Mom and Pop lending shops to online credit to giant state owned banks called Trusts. They have grown from a fraction of the economy ten years ago to nearly half of all China’s annual Rmb 25 trillion ($4.1 trillion) in lending in the economy today. Shadow Banks are a new aspect of capitalism in China – barely regulated, highly risky, yet tolerated by Beijing. They have been permitted to flourish because many companies cannot get access to formal bank loans. It is the Wild West of banking in China. If we define capitalism as economic activity controlled by the private sector, then Shadow Banking is still in a hybrid stage, a halfway house between the state and the private economic. But it is precisely this divide that makes Shadow Banking an important to the rise of capitalism. How Beijing handles this large free market will say a lot about how the country’s economy will grow – will free markets be granted greater leeway?

The Handbook of Global Shadow Banking Volume II

They identify five key characteristics of shadow banking in China,306 some
reflecting items discussed before in this ... for Financial Reform, Wiley, Surrey; A.
Collier, (2017), Shadow Banking and the Rise of Capitalism in China, Palgrave ...

The Handbook of Global Shadow Banking  Volume II

Author: Luc Nijs

Publisher: Springer Nature

ISBN: 3030348172

Page: 744

View: 621

This global handbook provides an up-to-date and comprehensive overview of shadow banking, or market-based finance as it has been recently coined. Engaging in financial intermediary services outside of normal regulatory parameters, the shadow banking sector was arguably a critical factor in causing the 2007-2009 financial crisis. This second volume explores three particular domains of shadow banking. The first domain deals with the macro-economic fundamentals of the respective shadow banking segments: Why do they exist, what problems do they solve and why are some of their embedded risks so persistent? The second domain captures the global dimensions of shadow banking markets, reviewing the particularities and specifics of various shadow banking systems around the world. Volume II concludes with an extensive overview of how the sector has changed since the financial crisis, focusing on regulatory arbitrage, contract imperfection and governance. Closing on unresolved issues and open-ended questions that will no doubt remain prominent in the shadow banking sector for years to come, this handbook is a must-read for professionals and policy-makers within the banking sector, as well as those researching economics and finance.

Remaking Monetary Policy in China

“What we learn from China's rising shadow banking: Exploring the nexus of
monetary tightening and banks' role in entrusted lending.” NBER Working Paper
Series 21890. Collier, Andrew. 2017. Shadow banking and the rise of capitalism
in ...

Remaking Monetary Policy in China

Author: Michael Beggs

Publisher: Springer

ISBN: 9811397260

Page: 125

View: 515

This book covers the recent history of Chinese monetary policy. While most current work focuses on This book traces and explains the evolution of Chinese monetary policy in the years before 2008. The turn towards interest rate deregulation and market-oriented policy in China in recent years is often seen as a break with former command-and-control policy norms, in favour of Western central banking norms. We argue that Chinese monetary policy already went through a transformation under the influence of ‘new consensus’ macroeconomics after 1998, but that this surprisingly led to increased reliance on direct banking controls in the 2000s. Therefore, many of the controls that look to many like a remnant of central planning are in fact an outcome of an earlier attempt to ‘rationalise’ monetary policy, in unusual Chinese conditions. Specifically, policy returned to direct controls because of an underdeveloped interbank money market, and a glut of bank liquidity associated with enormous foreign exchange inflows in the mid-2000s.

Illicit Industries and China s Shadow Economy

2 D. McMahon, China's Great Wall of Debt: Shadow Banks, Ghost Cities and
Massive Loans and the End of the Chinese Miracle (Boston, MA: Houghton Mifflin
Harcourt, 2018); A. Collier, Shadow Banking and the Rise of Capitalism in China
 ...

Illicit Industries and China   s Shadow Economy

Author: Victor Teo

Publisher: Routledge

ISBN: 1351260669

Page: 184

View: 915

This book considers a wide range of illicit industries in China, exploring what drives such activities, why consumers tolerate them to differing degrees, how attempts to regulate them are implemented and how such regulation is resisted. Industries considered include human smuggling, human organs trade, illicit pharmaceuticals, smuggling of animal parts, illegal logging and trade of woods, food safety and shadow banking. Throughout, the book describes how the shadow economy works, analyses the degree to which illicit activities are regarded as criminal and highlights the importance of the shadow economy for certain regions of China and certain sections of Chinese society. In doing so, it reveals the challenges of human security posed by these industries not only for China, but also for the global community, and considers a robust governance mechanism at both national and global levels to address these challenges. Overall, the book provides a very rich picture of a key aspect of China’s contemporary economy which is difficult to research.

The Routledge International Handbook of Financialization

Cases from China's shareholding reform, local development financing, and the
growth of its shadow banking industry ... Cracks are showing in China's shadow
banking industry. ... Shadow Banking and the Rise of Capitalism in China.

The Routledge International Handbook of Financialization

Author: Philip Mader

Publisher: Routledge

ISBN: 1351390368

Page: 508

View: 202

Financialization has become the go-to term for scholars grappling with the growth of finance. This Handbook offers the first comprehensive survey of the scholarship on financialization, connecting finance with changes in politics, technology, culture, society and the economy. It takes stock of the diverse avenues of research that comprise financialization studies and the contributions they have made to understanding the changes in contemporary societies driven by the rise of finance. The chapters chart the field’s evolution from research describing and critiquing the manifestations of financialization towards scholarship that pinpoints the driving forces, mechanisms and boundaries of financialization. Written for researchers and students not only in economics but from across the social sciences and the humanities, this book offers a decidedly global and pluri-disciplinary view on financialization for those who are looking to understand the changing face of finance and its consequences.

China s Economy

"This book is an effort to explain how China's economy got to where it is today, where it might be headed in the coming years, and what China's rise means for the rest of the world.

China s Economy

Author: Arthur R. Kroeber

Publisher: OUP USA

ISBN: 0190946474

Page: 464

View: 666

"This book is an effort to explain how China's economy got to where it is today, where it might be headed in the coming years, and what China's rise means for the rest of the world. It is intended to be useful to the general reader, who has an intelligent interest in China and its global impact but not necessarily a specialized background in either China or economics. Since the first edition was published in 2016 China's relevance to the world has increased dramatically, thanks to the more assertive foreign policy of president Xi Jinping and the move by the United States under the Trump Administration to treat China as a geopolitical rival. Because of its sheer size, the growing tensions with the United States, and the gulf in basic values between China and the international system it increasingly seeks to influence, understanding modern China's origins and trajectory is more important than ever. An economy is a complicated organism, which does not easily lend itself to description by narrative, as one might tell the story of a person's life. It is more like a jigsaw puzzle-to be precise, a three-dimensional jigsaw puzzle, in which the shapes of the pieces keep changing. Rather than a fixed structure like a molecule, a skyscraper, or a mathematical equation, an economy is a set of fairly solid institutions and fairly fluid arrangements created by people to enable them to get the goods and services that they want. The nature of these institutions and arrangements is largely determined by the political bargains made among the important groups in a society. As the composition, relative power, and interests of these groups change over time, so do the economic arrangements. In other words, considerations of political practicality usually trump those of economic efficiency. For economic policymakers, this means that they must make do with second- or third-best versions of their ideal recipes. For analysts, it means that describing an economy is more of a historical art than a natural science. To the extent it is a science, it is more physiology than physics"--

American Book Publishing Record

Capitalism - China . 2 . Capitalism - China - - History . ... and Reza Moghadam
Overview / Economic growth in Turkey , 1960 - 2000 / Turkey ' s inflation process
Balance sheet developments since ... 8 The banking system - Raiffeisenbank
2 . ... 9667 Living in the shadow of the large dams : long term responses of
downstream and lakeside communities of Ghana ' s Volta River Project / Dzodzi
Tsikata .

American Book Publishing Record

Author:

Publisher:

ISBN:

Page:

View: 257

Tuna Longlining by China in the Pacific Islands A Description and Considerations for Increasing Benefits to FFA Member Countries

1.1.3 Finance The availability of capital is a necessary element in fostering
economic growth , whether by private or state owned enterprises . Finance for
large - scale industrial activities in China is mainly provided by banks , with the
largest and most important of those still ... This creates a phenomenon described
by one writer as “ shadow banks ” which , although technically illegal , operate in
a gray ...

Tuna Longlining by China in the Pacific Islands   A Description and Considerations for Increasing Benefits to FFA Member Countries

Author: Mike A. McCoy

Publisher:

ISBN:

Page: 79

View: 881

Choice

... Shanghai Banking The Rise and Decline of China's Finance Capitalism
ZhaoJinJi An East Gale Book • 0-7656-1002-7 ... and Policy David Berman 0-
7656-1085-X Cloth $65.95 Kashmir in the Shadow of War Regional Rivalries in a
Nuclear ...

Choice

Author:

Publisher:

ISBN:

Page:

View: 781

New York and the Rise of American Capitalism

45 Ithaca petitioners believed earlier chartered eastern banks and their western
branches were ingrown , overly concerned with ... In making this argument , they
began to foreshadow a new way of looking at the economy that would become
dominant by the 1830s and 1840s . ... Baltimore , Alexandria , and Norfolk were
deeply involved in foreign trade to Europe and in the opening of trade with China
.

New York and the Rise of American Capitalism

Author: Roberta J. M. Olson

Publisher: New York Historical Society

ISBN:

Page: 315

View: 682

The first extensive catalogue of this significant collection presents over 200 highlights of the Society's vast holdings of works on paper

Subject Guide to Australian Business Commerce Law Books

Capital see also Bank capital ; Profit ; Venture capital ; Wealth Capital - Australia
HICKS , JOHN ROBERT & DENISE ... 99 ISBN 0582664829 , LonChe , Txt .
Capital - China LIN , SHUJUAN , Shadow Price of Capital in China , pb 44p A4
1991 $ 7 . ... Capitalism - Indonesia ROBISON , RICHARD , Indonesia : Rise of
Capital ...

Subject Guide to Australian Business  Commerce   Law Books

Author: John E. Simkin

Publisher:

ISBN:

Page: 206

View: 467

A guide to the 5490 books in these fields in the TAustralian Books in Print' database as at June 1992, and out-of-print titles notified since December 1989, with titles indexed under 3617 subject headings.

Business Review Weekly

Yet if the shadow of Jiang looms large — itself no unusual thing — the situation
subtly changed during the Sars epidemic ... It is easy to be dazzled by the scale
of China ' s industrial rise , which began when Deng began his famous " opening
up ... impossible for the country , except in select industries such as media ,
telecommunications , finance and banking . ... the board indefinitely — but it does
provide a starting point to interpret China ' s transition to capitalism without
democracy .

Business Review Weekly

Author:

Publisher:

ISBN:

Page:

View: 557

The Economist

Hedge funds, private-equity firms and other parts of the shadow banking system
should go, along with over-the- counter ... company of Asian bishops, indigenous
types in all their finery, would-be financial reformers and anti-capitalist warriors. ...
In China, two-thirds of the respondents to one opinion poll agreed with the
proposition that "It's possible to have real ... Political leaders and religious
establishments are placed in a dilemma by the rise of cyber-hedonism: do they
follow their ...

The Economist

Author:

Publisher:

ISBN:

Page:

View: 847

General Series

China acquiesced in the transfer to Japan of Russian interests in Manchuria ; the
Anglo - Japanese alliance was twice renewed ; there was a ... The strength of
Japan ' s international position was formidable and tended to overshadow , even
to conceal , its instability at home . ... Industry finally outgrew its traditional
framework and assumed the characteristics of contemporary capitalism
elsewhere . ... These wars encouraged the growth of large scale banking and of
marine transport .

General Series

Author: Historical Association (Great Britain)

Publisher:

ISBN:

Page:

View: 723

Canadian Dimension

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W lauoW ? uoyinsýssurg Bond Issues Facing ... for That Bank Rate Has Been
Raised , Big Ouestion Lies in Size of the Budget da MOHS SXIUS TO RISE
Nevertheless ... Furthermore , the capitalist World . what appear as losses
created conditions which The only area of relative decline ... English example ,
that trade declines foreshadow investment and financial deterioration over the
long The Imperial ...

Canadian Dimension

Author:

Publisher:

ISBN:

Page:

View: 376

The Oxford History of Indian Business

( 1976 ) , ' Cotton Mills and Spinning Wheels : Swadeshi and the Indian Capitalist
Class , 1920–2 , Economic and Political Weekly , vol . II , no . 47 , 20 ... ( 1955 ) ,
In the Shadow of the Mahatma , Bombay : Orient Longman . ( 1977 ) , Bapu : A ...
Brunyate , J. B. ( 1900 ) , An Account of the Presidency Banks , Calcutta :
Government Printing Office . Buchanan ... Chandra , Bipan ( 1966 ) , Rise and
Growth of Economic Nationalism in India , New Delhi : People's Publishing
House . ( 1979 ) ...

The Oxford History of Indian Business

Author: Dwijendra Tripathi

Publisher: Oxford University Press, USA

ISBN:

Page: 371

View: 421

Illustrated With Rare Pictures, This Authoritative History Of Indian Business In The Modern Period Charts The Course Of The Transition Of Indian Business From Mercantile Capitalism To Industrial Capitalism. This Book Is One Of The First To Provide An Analysis Of The Roots Of Modern Business Practices In India And Of The Forces That Shaped The Features And Characteristics That Distinguish Business Today.

When Asia Meets China in the New Millennium

In particular , banks have had to set aside more capital to provide for the high bad
debt burden , thus leaving lesser ... will remain major risks to Asia's economic
growth as it moves into a new economic paradigm under the shadow of China ...

When Asia Meets China in the New Millennium

Author: Chi Lo

Publisher:

ISBN:

Page: 190

View: 973