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Market integration in China

Author

Listed:
  • Chen, Qingqing
  • Goh, Chor-Ching
  • Sun, Bo
  • Xu, Lixin Colin

Abstract

Over the last three decades, China's product, labor, and capital markets have become gradually more integrated within its borders, although integration has been significantly slower for capital markets. There remains a significant urban-rural divide, and Chinese cities tend to be under-sized by international standards. China has also integrated globally, initially through the Special Economic Zones on the coast as launching grounds to connect with world markets, and subsequently through the accession to the World Trade Organization. For future policy considerations, this paper argues that its economic production needs to be spatially concentrated, and its social services need to be spread out to the interior to ensure harmonious development and domestic integration (through inclusive rural-urban transformations and effective territorial development).

Suggested Citation

  • Chen, Qingqing & Goh, Chor-Ching & Sun, Bo & Xu, Lixin Colin, 2011. "Market integration in China," Policy Research Working Paper Series 5630, The World Bank.
    • Handle: RePEc:wbk:wbrwps:5630
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    References listed on IDEAS

    as
    1. de Brauw, Alan & Huang, Jikun & Rozelle, Scott & Zhang, Linxiu & Zhang, Yigang, 2002. "The Evolution of China's Rural Labor Markets During the Reforms," Journal of Comparative Economics, Elsevier, vol. 30(2), pages 329-353, June.
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    Cited by:

    1. Herrmann-Pillath, Carsten & Libman, Alexander & Yu, Xiaofan, 2014. "Economic integration in China: Politics and culture," Journal of Comparative Economics, Elsevier, vol. 42(2), pages 470-492.
    2. Chao Li & John Gibson, 2013. "Spatial Price Differences and Inequality in China: Housing Market Evidence," Working Papers in Economics 13/06, University of Waikato.
    3. Huang, Shuo & Fidrmuc, Jan & Fidrmuc, Jarko, 2015. "Whither China? Reform and economic integration among Chinese regions," China Economic Review, Elsevier, vol. 33(C), pages 94-110.
    4. Chen, Changsheng & Girardin, Eric & Mehrotra, Aaron, 2017. "Global slack and open economy Phillips curves – A province-level view from China," China Economic Review, Elsevier, vol. 42(C), pages 74-87.
    5. Kun Tracy Wang & Greg Shailer, 2018. "Does Ownership Identity Matter? A Meta‐analysis of Research on Firm Financial Performance in Relation to Government versus Private Ownership," Abacus, Accounting Foundation, University of Sydney, vol. 54(1), pages 1-35, March.
    6. Fuzheng Luo & Nengsheng Luo, 2020. "Inter-Provincial Market Fragmentation and Regional Economic Development in China," Sustainability, MDPI, vol. 12(8), pages 1-18, April.
    7. Shailer, Greg & Wang, Kun, 2015. "Government ownership and the cost of debt for Chinese listed corporations," Emerging Markets Review, Elsevier, vol. 22(C), pages 1-17.
    8. Mohan Fonseka & Gao‐Liang Tian & Omar Al Farooque, 2020. "Impact of environmental information disclosure and real estate segments on cost of debt: Evidence from the Chinese real estate industry," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 28(1), pages 195-221, January.
    9. Wang, Xiaozu & Xu, Lixin Colin & Zhu, Tian, 2011. "Foreign direct investment under weak rule of law : theory and evidence from China," Policy Research Working Paper Series 5790, The World Bank.

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    Keywords

    Economic Theory&Research; Banks&Banking Reform; Debt Markets; Emerging Markets; Access to Finance;
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