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The Rise of Shadow Banking in China: The Political Economy of Modern Chinese State Capitalism

Author

Listed:
  • Kellee Tsai

    (Division of Social Science, Hong Kong University of Science and Technology
    Institute for Emerging Market Studies, Hong Kong University of Science and Technology)

Abstract

Kellee Tsai, Head & Chair Professor of HKUST's Division of Social Science, explores China’s response to the 2008 global financial crisis, after which time Chinese enterprises both large and small have engaged in unprecedented levels of off-balance sheet activities, which are now estimated to account for an astounding 26-69% of China's total GDP. Prof. Tsai analyses the major sources and scope of China's off-balance sheet lending, offering policy suggestions on how to reduce some of the risks associated with such "shadow banking" activities, such as increasing market access in the services sector and setting up channels for debt issuance by local governments.

Suggested Citation

  • Kellee Tsai, 2015. "The Rise of Shadow Banking in China: The Political Economy of Modern Chinese State Capitalism," HKUST IEMS Thought Leadership Brief Series 2015-10, HKUST Institute for Emerging Market Studies, revised Aug 2015.
    • Handle: RePEc:hku:briefs:201510
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    File URL: https://iems.ust.hk/assets/publications/thought-leadership-briefs/2015/tlb10/tsai-shadow-banking-china-hkustiems-tlb10.pdf
    File Function: First version, 2015
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    Cited by:

    1. Jie Wu & Zhenliang Yang & Mengxuan Wu & Hui Huang, 2023. "The Relationship Between College Students' Mobile Phone Addiction and Aggression: A Moderated Mediation Model," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 18(2), pages 1037-1055, April.

    More about this item

    Keywords

    China; state capitalism; informal finance; shadow banking; financial development;
    All these keywords.

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G01 - Financial Economics - - General - - - Financial Crises

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