@article{ART000896182},
author={Park， Chan IL},
title={Endogenous Characteristics of Chinese Financial Reforms},
journal={Journal of Regulation Studies},
issn={1738-7132},
year={2003},
volume={12},
number={2},
pages={219-244}
TY - JOUR
AU - Park， Chan IL
TI - Endogenous Characteristics of Chinese Financial Reforms
JO - Journal of Regulation Studies
PY - 2003
VL - 12
IS - 2
PB - 한국규제학회
SP - 219
EP - 244
SN - 1738-7132
AB - The purpose of this paper is to show that financial reforms can be endogenous responses to economic growth and changes in political constraints rather than autonomous policy tools of the authorities. The endogenous characteristics of Chinese financial reforms are identified as follows. First, this paper takes a close look at endogenous aspects of Chinese financial repression policies. The endogenous characters of the financial repression policies explain why future financial liberalization in China may follow an endogenous path. Second, this study finds that recent developments of legal frameworks for financial markets have been institutional responses to macroeconomic imbalances and increased demands for property right protection. Finally, this paper argues that the lack of market infrastructure and various political constraints are major obstacles for capital market developments. As the economy grows further, the fixed costs associated with the establishment of market infrastructure will be mitigated.
KW - endogenous financial reforms;financial repression;legal frameworks;market infrastructure
DO -
UR -
ER -
Park， Chan IL. (2003). Endogenous Characteristics of Chinese Financial Reforms. Journal of Regulation Studies, 12(2), 219-244.
Park， Chan IL. 2003, "Endogenous Characteristics of Chinese Financial Reforms", Journal of Regulation Studies, vol.12, no.2 pp.219-244.
Park， Chan IL "Endogenous Characteristics of Chinese Financial Reforms" Journal of Regulation Studies 12.2 pp.219-244 (2003) : 219.
Park， Chan IL. Endogenous Characteristics of Chinese Financial Reforms. 2003; 12(2), 219-244.
Park， Chan IL. "Endogenous Characteristics of Chinese Financial Reforms" Journal of Regulation Studies 12, no.2 (2003) : 219-244.
Park， Chan IL. Endogenous Characteristics of Chinese Financial Reforms. Journal of Regulation Studies, 12(2), 219-244.
Park， Chan IL. Endogenous Characteristics of Chinese Financial Reforms. Journal of Regulation Studies. 2003; 12(2) 219-244.
Park， Chan IL. Endogenous Characteristics of Chinese Financial Reforms. 2003; 12(2), 219-244.
Park， Chan IL. "Endogenous Characteristics of Chinese Financial Reforms" Journal of Regulation Studies 12, no.2 (2003) : 219-244.
