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This book describes the entrepreneurial of a Chinese securities firm from the early 1990s, and reviews the 30-year history of Chinas capital markets with a panoramic and coherent view of the birth and development of a securities institution. It highlights the distinctive feature of intellectual entrepreneurship and demonstrates the historical commitment of the intellectual community in Chinas reform and opening up era. The book presents rich details of the development and evolution of the securities industry. Whether it is an analysis of the origin of the term investment banking in China, or a live account of international financial events, or the journey of fund practitionersthey all give readers a glimpse into the microcosm of Chinas capital markets. This book provides valuable historical information and ideas for the study of the history of Chinas capital markets.
China's momentous socioeconomic transformation is not taking place in an intellectual vacuum: Chinese scholars and public intellectuals are actively engaged in fervent discussions about the country's domestic and foreign policies, demographic constraints, and ever-growing integration into the world community. This book focuses on China's major think tanks where policies are initiated, and on a few prominent thinkers who influence the way in which elites and the general public understand and deal with the various issues confronting the country.The book examines a number of factors contributing to the rapid rise of Chinese think tanks in the reform era. These include the leadership's call for ...
Examines the dramatic transformation of Asian communist countries-China in particular-to vigorous market economies
Includes bibliographical references.
The exponential growth of China's stock markets in the past decade has attracted global attention from academics and practitioners. The practitioner's interest in Chinese markets stems from corporations; investors and financial institutions foresee substantial benefits from investing in China in the long run. However, the academic literature on the development of securities markets and reform of state enterprises in China is still in its infancy and fragmented. This handbook aims to bridge that gap by presenting a wide spectrum of research in the forefront of financial applications. It integrates theory and practice with state-of-the-art statistical techniques and provides numerous insights into the main challenges confronting Chinese markets in the new millennium.
A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above ...
This volume examines the 20-year aftermath of the 1989 assaults on established, state-sponsored socialism in the former Soviet bloc and in China. It brings together prominent experts on Eastern Europe and China to examine the respective trajectories of political, economic and social transformations that unfolded in these two areas, while also comparing the changes that ensued within the two regions.
A comparative study of the political economy of the transition from communism in East and Southeast Asian countries (China, North Korea, Vietnam, Laos and Cambodia), addressing the key theoretical questions generated from the debate between shock-therapists and gradualists. While accurately defining the pre-reform model, this book explores the causal variables that have contributed to reform efforts within Asia, examining the significance of the sequencing of political and economic transition and the interplay between politics and the economy in determining variations in transition outcomes. Comparing the 'real world' experiences of transition nations in communist Asia with Eastern Europe, prominent questions are brought to the fore; will market capitalism or market socialism prevail after the grand failure of communism? This book makes an important contribution to the political economy theory of comparative communist and post-communist studies and provides detailed analytical insights that will prove influential in future theoretical work.
China has achieved alarming success in accelerating the economic growth rate since it started economic reform about 16 years ago.However, its state sector is still running severe deficits. Even though its productivity might be improved since the reform started, its financial situation, nevertheless, has been worsening mainly as a result of increased competition from the rapidly expanding non-state sector. Therefore, the reform of this sector has become an urgent problem.All the papers collected in this book are closely related to the various issues that the reform of the state sector has to solve.Among the contributors are Professor Merton H Miller, a Nobel laureate and expert on firm financ...
An edited volume consisting of an introduction by the editors and eleven additional papers on China's financial system and financial sector reform. The papers originated at a conference on financial reform in China held at the John F. Kennedy School of Government, Harvard University, in 2001. They were then thoroughly revised and updated for publication.