Download or read book Shadow Banking in China written by Andrew Sheng and published by John Wiley & Sons. This book was released on 2016-05-09 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative guide to the rise of Chinese shadow banking and its systemic implications Shadow Banking in China examines this rapidly growing sector in the Chinese economy, and what it means for your investments. Written by two world-class experts in Chinese banking, including the Chief Advisor to the China Banking Regulatory Commission and former Chairman of the Securities and Futures Commission in Hong Kong, this book is unique in providing true, first-hand perspectives from authorities within the world's largest economy. There is little widely-available information on China's shadow banking developments, and much of it is rife with disparate data, inaccuracies and overblown risks due to definitional and measurement differences. This book clears the confusion by supplying accurate information, on-the-ground context and invaluable national balance sheet analysis you won't find anywhere else. Shadow banking has grown to be a key source of credit in China, and a major component of the economy. This book serves as a primer for analysts and investors seeking real, useful information about the sector to better inform investment decisions. Discover what's driving the growth of shadow banking in China Learn the truth about both real and inflated risks Dig into popular rhetoric and clarify common misconceptions Access valuable data previously not published in English Despite shadow banking's critical influence on the Chinese economy, there have been very few official studies and even fewer books written on the subject. Understanding China's present-day economy and forecasting its future requires an in-depth understanding of shadow banking and its inter-relationship with the banking system and other sectors. Shadow Banking in China provides authoritative reference that will prove valuable to anyone with financial interests in China.
Download or read book China s Rise written by C. Fred Bergsten and published by Peterson Institute. This book was released on 2009 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Helps the United States and the rest of the world better comprehend the facts and dynamics underpinning China's rise. This book analyzes the data on China's economy, foreign and domestic policy, and national security.
Download or read book The State Strikes Back written by Nicholas R. Lardy and published by Peterson Institute for International Economics. This book was released on 2019-01-01 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's extraordinarily rapid economic growth since 1978, driven by market-oriented reforms, has set world records and continued unabated, despite predictions of an inevitable slowdown. In The State Strikes Back: The End of Economic Reform in China?, renowned China scholar Nicholas R. Lardy argues that China's future growth prospects could be equally bright but are shadowed by the specter of resurgent state dominance, which has begun to diminish the vital role of the market and private firms in China's economy. Lardy's book arrives in timely fashion as a sequel to his pathbreaking Markets over Mao: The Rise of Private Business in China, published by PIIE in 2014. This book mobilizes new data to trace how President Xi Jinping has consistently championed state-owned or controlled enterprises, encouraging local political leaders and financial institutions to prop up ailing, underperforming companies that are a drag on China's potential. As with his previous book, Lardy's perspective departs from conventional wisdom, especially in its contention that China could achieve a high growth rate for the next two decades—if it reverses course and returns to the path of market-oriented reforms.
Download or read book Science and Technology in Post Mao China written by Denis Fred Simon and published by Harvard Univ Asia Center. This book was released on 1989 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: Along with the political and economic reforms that have characterized the post-Mao era in China there has been a potentially revolutionary change in Chinese science and technology. Here sixteen scholars examine various facets of the current science and technology scene, comparing it with the past and speculating about future trends. Two chapters dealing with science under the Nationalists and under Mao are followed by a section of extensive analysis of reforms under Deng Xiaoping, focusing on the organizational system, the use of human resources, and the emerging response to market forces. Chapters dealing with changes in medical care, agriculture, and military research and development demonstrate how these reforms have affected specific areas during the Chinese shift away from Party orthodoxy and Maoist populism toward professional expertise as the guiding principle in science and technology. Three further chapters deal with China's interface with the world at large in the process of technology transfer. Both the introductory and concluding chapters describe the tension between the Chinese Communist Party structure, with its inclinations toward strict vertical control, and the scientific and technological community's need for a free flow of information across organizational, disciplinary, and national boundaries.
Download or read book Sustaining China s Economic Growth After the Global Financial Crisis written by Nicholas R. Lardy and published by Peterson Institute. This book was released on 2012 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rising Inequality in China written by Shi Li and published by Cambridge University Press. This book was released on 2013-10-31 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the evolution of economic inequality in China from 2002 to 2007; a sequel to Inequality and Public Policy in China (2008).
Download or read book The Russia Balance Sheet written by Anders Åslund and published by Peterson Institute. This book was released on 2009 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction : why Russia matters and how -- Russia's historical roots -- Political development : from disorder to recentralization of power -- Russia's economic revival : past recovery, future challenges -- Policy on oil and gas -- International economic integration, trade policy, and investment -- Challenges of demography and health -- Russian attitudes toward the West -- Russia as a post-imperial power -- Pressing the "reset button" on US-Russia relations -- Key facts on Russia, 2000-2008.
Download or read book The Escape from Balance Sheet Recession and the QE Trap written by Richard C. Koo and published by John Wiley & Sons. This book was released on 2014-10-27 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compare global experiences during the balance sheet recession and find out what is needed for a full recovery The Escape from Balance Sheet Recession and the QE Trap details the many hidden dangers remaining as the world slowly recovers from the balance sheet recession of 2008. Author and leading economist Richard Koo explains the unique political and economic pitfalls that stand in the way of recovery from this rare type of recession that was largely overlooked by economists. Koo anticipated the current predicament in the West long before others and issued warnings in his previous books: Balance Sheet Recession and The Holy Grail of Macroeconomics. This new book illustrates how history is repeating itself in Europe while the United States, which learnt from the Japanese experience, is doing better by avoiding the fiscal cliff. However, because of the liberal dosage of quantitative easing already implemented, the United States, the United Kingdom, and Japan may face a treacherous path to normalcy in what Koo calls the QE Trap. He argues that it is necessary to understand balance sheet recession in order to resolve the Eurozone crisis, particularly the competitiveness problems. Koo issues warnings against those who are too ready to argue for structural reforms when the problems are actually with balance sheets. He re-examines Japan's two decades of experiences with this rare recession and offers an insider view on the Abenomics. On China, readers will gain a very different historical perspective as Koo argues that western commentators have forgotten their own history when they talk about the re-balancing of the Chinese economy. Learn from Japan which experienced the same predicament afflicting the West fifteen years earlier Discover how unwinding of quantitative easing will affect the United States, the United Kingdom, Japan, as well as the emerging world Examine solutions to the Eurozone problems caused by two balance sheet recessions eight years apart Gain insight into China's problems from the West's own experiences with urbanisation Koo, who developed the concept of balance sheet recession based on Japan's experience, took the revolution in macroeconomics started by John Maynard Keynes in 1936 to a new height. The Escape from Balance Sheet Recession and the QE Trap offers the world cure for balance sheet recession.
Download or read book China s National Balance Sheet written by Yang Li and published by Springer. This book was released on 2017-06-08 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the goal of perfecting the national governance system and raising the country’s governance capability, this book systematically analyzes the characteristics and trajectory of China’s economic expansion and structural adjustment, while also assessing a variety of short-term debt and long-term economic performance and financial risks. In addition to discussing the market-oriented reform process at the stage of economic development, institutional and structural characteristics, it presents research on the country as a whole, its residents, non-financial corporations, financial institutions and central banks, the central government, local government, and other external sectors. On the basis of extensive data, the book analyzes the national and sectoral balance sheets in China and explores a number of major issues the country is currently facing, such as sustainable development, government restructuring, local debt, welfare reform, openness and stability of the financial system, etc., as well as suitable policy measures and institutional arrangements for addressing them.
Download or read book China in the World Economy written by Nicholas R. Lardy and published by Peterson Institute for International Economics. This book was released on 1994 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is playing a growing role in the world economy. It is one of the world's fastest growing countries and is the tenth largest exporter. China is also a significant recipient of foreign aid and a major borrower on international capital markets. Even more significantly, it is attracting vast amounts of foreign direct investment. China in the World Economy examines the implications of China's emergence as a major player in the world economy. Its integration into the international economic order poses major difficulties for the rest of the world. These problems including bringing China's mixed market/centrally planned economy into the GATT, adapting to competition from labor-intensive Chinese exports, encouraging further market-oriented reform, and accommodating its demand for international capital. But China's participation in the global economy also offers important opportunities for trade, investment and international cooperation to promote world peace and stability. Nicholas Lardy anticipates that China will continue on a rapid growth path, thus magnifying the policy challenges and opportunities for its trading partners, including the U. S. He recommends a series of steps to facilitate China's full participation in the world economy.
Download or read book Comparative National Balance Sheets written by Raymond W. Goldsmith and published by University of Chicago Press. This book was released on 1985-04 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Raymond W. Goldsmith has combined his experience, good sense, and flair with figures to construct this groundbreaking comparative study of the balance sheets of twenty of the largest nations. A pioneer in the field of national accounts, Goldsmith now presents a work that will be a valuable tool in tracking the economic progress of and between nations. The majority of the balance sheets were created especially for this project, their components gleaned from fragmentary and heterogeneous data. There are approximately 3,500 entries, each measuring the value of one type of tangible or financial asset or liability at a given date. Goldsmith's estimates are keyed to fifteen benchmark dates in the economic progress of the cited nations, and for twelve nations he was able to construct balance sheets dating back to the nineteenth century or earlier. Combined, worldwide balance sheet are included for 1950 and 1978. Comparative National Balance Sheets will provide an essential basis for the quantitative analysis of the long-term financial development of these nations. In addition to national balance sheets for all large countries except Brazil and China, sectoral balance sheets for France, Germany, Great Britain, India, Japan, and the United States in the postwar period are also included.
Download or read book Markets Over Mao written by Nicholas R. Lardy and published by Peterson Institute for International Economics. This book was released on 2014-09-10 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's transition to a market economy has propelled its remarkable economic growth since the late 1970s. In this book, Nicholas R. Lardy, one of the world's foremost experts on the Chinese economy, traces the increasing role of market forces and refutes the widely advanced argument that Chinese economic progress rests on the government's control of the economy's "commanding heights." In another challenge to conventional wisdom, Lardy finds little evidence that the decade of the leadership of former President Hu Jintao and Premier Wen Jiabao (2003–13) dramatically increased the role and importance of state-owned firms, as many people argue. This book offers powerfully persuasive evidence that the major sources of China's growth in the future will be similarly market rather than state-driven, with private firms providing the major source of economic growth, the sole source of job creation, and the major contributor to China's still growing role as a global trader. Lardy does, however, call on China to deregulate and increase competition in those portions of the economy where state firms remain protected, especially in energy and finance.
Download or read book Resolving China s Corporate Debt Problem written by Wojciech Maliszewski and published by International Monetary Fund. This book was released on 2016-10-14 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase in investment after the Global Financial Crisis. Investment efficiency has fallen and the financial performance of corporates has deteriorated steadily, affecting asset quality in financial institutions. The corporate debt problem should be addressed urgently with a comprehensive strategy. Key elements should include identifying companies in financial difficulties, proactively recognizing losses in the financial system, burden sharing, corporate restructuring and governance reform, hardening budget constraints, and facilitating market entry. A proactive strategy would trade off short-term economic pain for larger longer-term gain.
Download or read book Off Balance Sheet Activities written by Joshua Ronen and published by Bloomsbury Publishing USA. This book was released on 1990-11-30 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of Off-Balance Sheet Activities is to gain insights into, and propose meaningful solutions to, those issues raised by the current proliferation of off-balance sheet transactions. The book has its origins in a New York University conference that focused on this topic. Jointly undertaken by the Vincent C. Ross Institute of Accounting Research and New York University's Salomon Center for the study of Financial Institutions at the Stern School of Business, the conference brought together academic researchers and practitioners in the field of accounting and finance to address the issues with the broad-mindedness requisite of a group whose approaches to solutions are as different from each other as their respectively theoretical and applied approaches to the disciplines of finance and accounting. The essays are divided into two sections. The first covers issues surrounding OBS activities and banking and begins with a brief introduction that places the essays into context. OBS activities and the underinvestment problem, whether loan sales are really OBS, and money demand and OBS liquidity are examined in detail. Section two, which also begins with a brief introduction, focuses on issues of securitized assets and financing. A report on recognition and measurement issues in accounting for securitized assets is followed by three separate discussion essays. Other subjects covered include contract theoretic analysis of OBS financing, the use of OBS financing to circumvent financial covenant restrictions, and debt contracting and financial contracting. The latter two contributions are also followed by discussion essays. This unique collection of papers will prove to be an interesting and valuable tool for accounting and finance professionals as well as for academics involved in these fields. It will also be an important addition to public, college, and university libraries.
Download or read book Macroeconomic Policy and Steady Growth in China written by Zhang Xiaojing and published by Routledge. This book was released on 2021-09-19 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the appearance of macroeconomics in the 1940s, economists have created many theoretical frameworks to explain the origin and mechanism of economic fluctuations. However, few of these have managed to gain explanatory power over reality; nor can they solve real-life problems. This book proposes a new macroeconomic paradigm that makes breakthroughs in these areas. Based on a balance sheet approach and macro-financial linkage analysis, this book carries out a comprehensive analysis of the trends within China’s macroeconomy in 2020. The author argues that the COVID-19 pandemic created a great degree of uncertainty—therefore, supply-side structural reform and improved total factor productivity have been promoted to ensure a policy of steady growth. Given the declining economic growth rate in percentage terms, China has needed to adapt to a moderate increase in the leverage ratio while applying more effective fiscal policies to achieve a dynamic balance between stable growth and risk prevention. Scholars and students of economics and finance, especially Chinese economics, will find this book a useful reference.
Download or read book China s National Balance Sheet 2015 Leverage Adjustment and Risk Management written by Yang Li and published by Springer. This book was released on 2018-03-22 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book aims at perfecting the national governance system and improving national governance ability. It evaluates the balance sheets of the state and residents, non-financial corporations, financial institutions and the central bank, the central government, local government and external sectors – the goal being to provide a systematic analysis of the characteristics and trajectory of China’s economic expansion and structural adjustment, as well as objective assessments of short and long-term economic operations, debt risks and financial risks with regard to the institutional and structural characteristics of economic development in market-oriented reform. It puts forward a preliminary analysis of China’s national and sectoral balance sheets on the basis of scientific estimates of various kinds of data, analyzes from a new perspective the major issues that are currently troubling China – development sustainability, government transformation, local government debt, welfare reform, and the financial opening-up and stability – and explores corresponding policies, measures, and institutional arrangements.
Download or read book Fiscal Policy and the Government Balance Sheet in China written by Mr. Waikei R Lam and published by International Monetary Fund. This book was released on 2023-08-04 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we present the most comprehensive estimates of China’s government balance sheet to date. Based on these estimates, we show how major shifts in fiscal policy over the last two decades have shaped the health of the public sector prior to the Covid-19 pandemic. We find that, at US$12.5 trillion, China has the largest stock of financial assets in the world. However, its net financial worth as a percent of GDP—though still higher than the large majority of countries—has declined over the last decade. This trend can be traced back to the turn of the century when China undertook a major restructuring of its state-owned enterprises but left important shortcomings in the intergovernmental fiscal system unaddressed. Compounding these risks, reform momentum stalled in the aftermath of the global financial crisis leading to high leverage and falling profitability among state-owned enterprises.
