Impetuses and Barriers to PRC Financial Reforms
碩士 === 國立臺灣大學 === 商學研究所 === 85 === AbstractThe purpose of this study is to build a better understanding of the issues behind financial reform and the context in which China''s financial reforms are taking place. In this paper I have opted to ta...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
1997
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| Online Access: | http://ndltd.ncl.edu.tw/handle/05333051158753422592 |
| Summary: | 碩士 === 國立臺灣大學 === 商學研究所 === 85 === AbstractThe purpose of this study
is to build a better understanding of the issues behind
financial reform and the context in which China''s financial
reforms are taking place. In this paper I have opted to take a
cross-sectional view of the issues that are important in
determining the pace of financial reform. I have tried to
integrate issues from a seemingly broad range of topics with my
thesis of how they affect the pace of financial reform. The
declining effectiveness of traditional measures of economic
control accompanying the reform process and the dilemma in which
this places regulatory authorities who have repeatedly
illustrated a desire to maximize central control will be
discussed as will the apparent concern by authorities that
financial liberalisation could fuel financial speculation,
increase inflationary pressures, or deny the state access to
cheap funding through the state banking sector or the sale of
government bonds.It must be remembered that financial sector
reforms take place against the backdrop of efforts to keep a lid
on inflation while avoiding bankruptcies or exacerbating
problems in the state sector that might worsen the unemployment
problem or prompt social unrest. Any examination of the future
of financial liberalisation in China and the possibility of
Shanghai''s re-emergence as an important financial centre must
consider these factors as part of the context in which the
liberalization of China''s financial markets is taking place.
Stop and go measures at reform are reflective of Beijing''s
concern regarding these issues as well as Beijing''s approach to
reforms in general reforming incrementally and trying to
follow the least socially disruptive path to achieving economic
growth while seeking to maintain as much as possible the state''s
control of the development process and the economy as a whole.
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