-PDF Download- Informal Finance In China EBOOK

Informal Finance in China

Author: Jianjun Li

Publisher:

Published: 2009

Total Pages: 216

ISBN-13: 0195380649

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

Author: Vojislav Maksimovic

Publisher: World Bank Publications

Published: 2008

Total Pages: 77

ISBN-13:

DOWNLOAD EBOOK →

Abstract: 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

Author: Jianjun Li

Publisher:

Published: 2009

Total Pages:

ISBN-13:

DOWNLOAD EBOOK →

Printbegrænsninger: Der kan printes 1 kapitel eller op til 5% af teksten.

A Dictionary of Business and Management in China

Author: Sara Hsu

Publisher: Oxford University Press

Published: 2018-03-29

Total Pages: 96

ISBN-13: 0192518348

DOWNLOAD EBOOK →

A Dictionary of Business and Management in China expands on Oxford's coverage of the topic in A Dictionary of Business and Management. It contains over 250 authoritative definitions, including coverage of China's business policy, customs, financial sector, and managerial practices as well as Chinese regulations, laws, and regulatory bodies. Entries include the Shenzhen Stock Exchange, guanxi, Tier One City, coastal development strategy, prohibited industries, and decentralization. Definitions have also been divided up into categories such as government institutions, trade, policy, finance, and tax, providing a useful list of entries by subject for easy access to definitions relating to specific topics. China is a key emerging market which has experienced significant economic development over recent decades, making this dictionary a useful resource for students, academics, and professionals engaging with international business, and requiring definitions specific to China.

Back-Alley Banking

Author: Kellee S. Tsai

Publisher: Cornell University Press

Published: 2018-05-31

Total Pages: 335

ISBN-13: 1501717154

DOWNLOAD EBOOK →

Chinese entrepreneurs have founded more than thirty million private businesses since Beijing instituted economic reforms in the late 1970s. Most of these private ventures, however, have been denied access to official sources of credit. State banks continue to serve state-owned enterprises, yet most private financing remains illegal. How have Chinese entrepreneurs managed to fund their operations? In defiance of the national banking laws, small business owners have created a dizzying variety of informal financing mechanisms, including rotating credit associations and private banks disguised as other types of organizations. Back-Alley Banking includes lively biographical sketches of individual entrepreneurs; telling quotations from official documents, policy statements, and newspaper accounts; and interviews with a wide variety of women and men who give vivid narratives of their daily struggles, accomplishments, and hopes for future prosperity. Kellee S. Tsai's book draws upon her unparalleled fieldwork in China's world of shadow finance to challenge conventional ideas about the political economy of development. Business owners in China, she shows, have mobilized local social and political resources in innovative ways despite the absence of state-directed credit or a well-defined system of private property rights. Entrepreneurs and local officials have been able to draw on the uncertainty of formal political and economic institutions to enhance local prosperity.

Banking Behind the State

Author: Kellee S. Tsai

Publisher:

Published: 1999

Total Pages: 532

ISBN-13:

DOWNLOAD EBOOK →

China's Fintech Explosion

Author: Sara Hsu

Publisher: Columbia University Press

Published: 2020-08-04

Total Pages: 430

ISBN-13: 0231551711

DOWNLOAD EBOOK →

Financial technology—or fintech—is gaining in popularity globally as a way of making financial services more efficient and accessible. In rapidly developing China, fintech is taking off, catering to markets that state-owned banks and an undersized financial sector do not serve amid a backdrop of growing consumption and a large, tech-savvy millennial generation. It is becoming increasingly likely that some of China’s fintech firms will change the way the world does business. In China’s Fintech Explosion, Sara Hsu and Jianjun Li explore the transformative potential of China’s financial-technology industry, describing the risks and rewards for participants as well as the impact on consumers. They cover fintech’s many subsectors, such as digital payment systems, peer-to-peer lending and crowdfunding, credit card issuance, internet banks, blockchain finance and virtual currencies, and online insurance. The book highlights the disruption of traditional banking as well as the risks of fintech and regulatory technology. Hsu and Li describe major companies including Alipay and Tencent, developer of WeChat Pay and a wealth-management business, and other leading fintech firms such as Creditease, Zhong An Insurance, and JD Finance. Offering expert analysis of market potential, risks, and competition, as well as case studies of firms and consumer behavior, China’s Fintech Explosion is a must-read for anyone interested in one of the world’s breakout sectors.

Finance in Rural China

Author: Xingyuan Feng

Publisher: Taylor & Francis

Published: 2023-03-24

Total Pages: 221

ISBN-13: 1000843440

DOWNLOAD EBOOK →

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.

Informal Institutions and Rural Development in China

Author: Biliang Hu

Publisher: Psychology Press

Published: 2007

Total Pages: 348

ISBN-13: 0415421772

DOWNLOAD EBOOK →

Providing an account of the role of informal institutions in Chinese rural development, this book, based on a decade of fieldwork of village life in the Chinese countryside, puts forth a distinctive argument on a very important topic in Chinese economic and social affairs. Focusing in particular on three major informal institutions: village trust and Rotating Savings and Credit Associations (ROSCAs), guanxi community and Integrating Village with Company (IVWC) governance, it argues that informal institutions, traditions and customs are all critical factors for facilitating modernization and social and economic development, promoting the integration of trust, reciprocity, responsibility and obligation into economic and social exchange processes and considerably lowering risks and transactions costs. This detailed account is an invaluable resource for postgraduates and researching studying and working in this area. Winner of the 2008 Zhang Peigang Development Economics Award.

Essays on Money and Finance

Author: Jiajin Huang

Publisher:

Published: 2019

Total Pages: 108

ISBN-13: 9783428556908

DOWNLOAD EBOOK →

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.