Law Finance And Economic Growth In China Pdf
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- Financial Sector Development and Growth: The Chinese Experience
- China to put financial institution bankruptcy laws on legislative agenda
- Law, finance, economic growth and welfare: why does legal origin matter?
Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. DOI: China is an important counterexample to the findings in the law, institutions, finance, and growth literature: neither its legal nor financial system is well developed by existing standards, yet it has one of the fastest growing economies.
Financial Sector Development and Growth: The Chinese Experience
Amid toughened crackdown on financial scams and offences, 41, people were prosecuted last year, up 3. Procuratorates have worked with the securities regulator in exposing typical cases, and severely clamped down on financial cheating, market manipulation and insider trading to protect the interests of investors, read the report. They have also enhanced crackdown on money laundering, prosecuting people over related crimes last year, 4. The country adopted a zero-tolerance attitude toward crimes in the capital market, read the SPC report. China toughens crackdown on financial crimes Xinhua Updated:
Over the past several decades, a great number of scholars have devoted themselves to exploring the determinants of economic growth and to providing alternative theories on potential sources of cross-country income differences. Numerous variables, such as capital accumulation, technological progress, productivity, policy choice, the political structure, the legal system and even geography have been studied on both the theoretical level and the empirical level. The proposition that institutions matter seems to have garnered the most support and thereby has become a consensus among scholars, advisors, and even international agencies. In addition, compared with informal institutions norms for example , which can only operate effectively under a certain range of conditions such as repeated interaction, sufficient information, and small-scale group, legal institutions administered by the state are acknowledged to exert greater influence on economic performance in the modern economy. Since the s, the interaction between law and economic outcomes has been studied extensively within the discipline of law and economics.
China to put financial institution bankruptcy laws on legislative agenda
Since the mids, considerable interest has focused on the link between the financial sector and economic growth. Most empirical studies have concluded that development of the financial sector accelerates economic growth for example, Levine ; Thiel ; Wachtel These studies note that most investment in transition countries has been financed from cash inflows, foreign direct investment FDI has substituted for domestic financing, and the level of loans granted to the private sector is considerably lower than the European Union EU average. Unable to display preview. Download preview PDF.
Forthcoming, Journal of Financial Economics. Abstract. China is an important counterexample to the findings in the law, institutions, finance, and growth.
Law, finance, economic growth and welfare: why does legal origin matter?
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