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From Scorned to Loved? The Political Economy of the Development of the Stock Market in China

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  • Sonia Wong Man Lai
  • Yong Yang

Abstract

This paper explains how and why the stock market, which is regarded as the embodiment of capitalism, has been allowed to develop and gain a prominent place among China's financial markets. That development has been consistent with the changing vested interests of the central government in its attempts to collect quasi-fiscal revenue from the financial sector, reflecting the stock market's growing importance as a tax-collection venue.

Suggested Citation

  • Sonia Wong Man Lai & Yong Yang, 2009. "From Scorned to Loved? The Political Economy of the Development of the Stock Market in China," Global Economic Review, Taylor & Francis Journals, vol. 38(4), pages 409-429.
    • Handle: RePEc:taf:glecrv:v:38:y:2009:i:4:p:409-429
    DOI: 10.1080/12265080903391826
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