Informal Finance in China

American and Chinese Perspectives
Erscheinungsjahr 2009
ISBN: 978-0-19-538064-4
Verlag: OUP US

Buch, Englisch, 216 Seiten, Print PDF, Format (B × H): 161 mm x 240 mm, Gewicht: 533 g

Informal finance consists of nonbank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. It has provided much-needed financing to small and medium enterprises (SMEs) in particular, in the face of a tightly constrained and overburdened formal banking system. Unable to obtain a bank loan, firms have relied upon individuals and informal organizations outside of the banking system to obtain financing for their ventures or working capital (operating funds). Presently there is a scarcity of information on informal finance in China and it is expected to have a significant impact upon GDP and money supply.

This book, with contributions from leading scholars, describes the evolution, characteristics, and variation of informal finance in China from American and Chinese perspectives. Literature by Jiang Shuxia, Jiang Xuzhao, and Li Jianjun has heretofore been available only in Chinese, while work by Kellee Tsai, Jianwen Liao, Harold Welsch, David Pistrui, and Sara Hsu has been available in English. For the first time, they come together to discuss informal financing and its many aspects.

Most of the essays are based upon original survey research conducted locally, as this type of data is not normally collected by the government. The papers pioneer the description and analysis of the nuances of informal finance from several perspectives; the authors look at the social, cultural, political, and economic causes of informal finance, its many variations, and its economic, personal, and political ramifications.

Autoren/Hrsg.

Li, Jianjun

Hsu, Sara

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Internationale Finanzmärkte
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines
• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Internationale Finanzmärkte

Inhaltsverzeichnis

- 1.: Sara Hsu, Introduction

- 2.: Shuxia Jiang, The Evolution of Informal Finance in China, and its Prospects

- 3.: Jianjun Li, Informal Finance, Underground Finance, Illegal Finance and Economic Movement: A National Analysis

- 4.: Xuzhao Jiang, A Comparative Analysis of Regional Informal Financial Organizations in China

- 5.: Kellee Tsai, Beyond Banks: The Local Logic of Informal Finance and Private Sector Development in China

- 6.: Jianwen Liao, Qian Ye, David Pistrui, and Harold P. Welsch: New Venture Financing: An Empirical Investigation of Chinese Entrepreneurs

- 7.: Sara Hsu, Is Informal Finance Faster, Cheaper, Better than Formal Finance? A Study of Small and Medium Enterprises in Shanghai and Nanjing

- 8.: Jianjun Li, Conclusion: Regulating Informal Finance in China

- Appendix A: Qiang Fu and Jianjun Li, Informal Finance, Monetary Conditions and Economic Movements

- Appendix B: Guangning Tian, The Story of One Entrepreneur's Financing Experience in Shanxi

Über Autor(innen)

Jianjun Li is Professor of Finance at Central University of Finance and Economics in Beijing, China. He has published seven books and one hundred papers on informal finance, monetary policy, banking performance measurement, financial crisis, financial reform, and liberalization.

Sara Hsu is Visiting Assistant Professor at Trinity University in San Antonio, Texas. Her areas of interest include development economics, China's economy, informal finance, and international economics.