MARC Record from Library of Congress

LEADER: 02232cam a22003377a 4500
001 2005617153
003 DLC
005 20050330114807.0
007 cr |||||||||||
008 050330s2005 mau sb 000 0 eng
010 $a 2005617153
040 $aDLC$cDLC
043 $aa-cc---
050 00 $aHB1
100 1 $aBoyreau-Debray, Genevieve.
245 10 $aPitfalls of a state-dominated financial system$h[electronic resource] :$bthe case of China /$cGenevieve Boyreau-Debray, Shang-Jin Wei.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2005.
490 1 $aNBER working paper series ;$vworking paper 11214
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 3/30/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"State-owned financial institutions have been proposed as a way to address market failure, but the recent literature has also highlighted their pathological problems. This paper studies the case of China for pitfalls of a state-dominated financial system, including possible segmentation of the internal capital market due to local government interference and mis-allocation of capital. Even without formal legal prohibition to capital movement across regions, we find that capital mobility within China is low. Furthermore, to the extent some capital moves around the country, the government (as opposed to the private sector) tends to allocate capital systematically away from more productive regions toward less productive ones. In this context, a smaller role of the government in the financial sector might increase economic efficiency and the rate of economic growth"--National Bureau of Economic Research web site.
650 0 $aBanks and banking$xGovernment ownership$zChina.
650 0 $aFinancial institutions$xGovernment ownership$zChina.
650 0 $aFinance$zChina.
700 1 $aWei, Shang-Jin.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 11214.
856 40 $uhttp://papers.nber.org/papers/W11214