Conceptualizing the Regulatory Thicket : China's Financial Markets after the Global Financial Crisis

著者名：Wei, Shen

Routledge（2020/10/18発売）

• 言語：ENG
• ISBN：9780367563059
• eISBN：9781000200348

Description

This book examines the regulatory framework, regulatory objectives, regulatory logics, regulatory instruments, regulatory failures, and regulatory responses in China窶冱 financial market after the global financial crisis. The book provides an in-depth analysis of China窶冱 contemporary financial regulatory system, focusing on risks, regulation, and policies in practice. By drawing on public and private interest theories relating to financial regulation, the book contends that the controlled development of the banking sector, and the financial sector generally, has transformed China窶冱 banks into more market-oriented institutions and increased public sector growth. However, China窶冱 financial market and financial regulation have some inherent weaknesses and deficiencies. This book also offers insights into how this can be improved or adapted to minimize systemic risks in China窶冱 financial sector. This book tries to prove that financial regulation is not just a vehicle for maintaining efficient financial markets but a primary tool through which the Chinese government achieves its political and economic objectives. More fundamentally, according to the law and finance theory, strong market and vibrant judicial systems are needed to further modernize China窶冱 financial markets and market economy.

The book will be a useful reference for anyone interested in learning from the Chinese experience.

Table of Contents

1 Changing landscapes and persisting puzzles; 2 A multi-tiered capital market solution to non-performing loans and the debt crisis; 3 Small, big, and deadly: Is opening the banking sector a mission impossible?; 4 Private lending and regulatory responses: A pluralistic analysis; 5 P2P lending in the dilemma of the sharing economy; 6 Three paradoxes of shadow banking: A political economy paradigm; 7 Renminbi internationalization: State-driven pragmatism; 8 By way of conclusion: Finance and regulation in the jungle; Bibliography