Factions and Finance in China

Elite Conflict and Inflation
Erscheinungsjahr 2010
ISBN: 978-0-521-10647-4
Verlag: Cambridge University Press

Buch, Englisch, 268 Seiten, Format (B × H): 152 mm x 229 mm, Gewicht: 440 g

The contemporary Chinese financial system encapsulates two possible futures for China's economy. On the one hand, extremely rapid financial deepening accompanied by relatively stable prices are both manifestations of a vigorous growth trajectory that will one day make China the world's largest economy. On the other hand, the colossal store of non-performing loans in the banking sector augurs a troubling future. Factions and Finance in China inquires how elite factional politics has given rise to both of these outcomes since the reform in 1978. The competition between generalists in the Chinese Communist Party and politically engaged technocrats over monetary policies has time and time again prevented inflation from spinning out of control. Shih shows that elite politics has exerted a profound impact on monetary policies and banking institutions in contemporary China.

Autoren/Hrsg.

Shih, Victor C.

Fachgebiete

• Interdisziplinäres Wissenschaften Wissenschaften Interdisziplinär Friedens- und Konfliktforschung
• Sozialwissenschaften Politikwissenschaft Internationale Beziehungen Konflikt- und Friedensforschung, Rüstungskontrolle, Abrüstung
• Sozialwissenschaften Politikwissenschaft Politikwissenschaft Allgemein Politische Methodenlehre
• Sozialwissenschaften Politikwissenschaft Regierungspolitik Wirtschafts- und Finanzpolitik
• Wirtschaftswissenschaften Volkswirtschaftslehre Wirtschaftspolitik, politische Ökonomie
• Sozialwissenschaften Politikwissenschaft Politikwissenschaft Allgemein Politikberatung

Inhaltsverzeichnis

1. Introduction; 2. China's financial performance in comparative perspective; 3. The banking system: flexible institutions and party domination; 4. Factional politics and its financial implications; 5. Factional politics, distribution of loans, and inflationary cycles: several quantitative tests; 6. The collapse of discipline: the first two inflationary cycles and the fiscalization of Chinese banks; 7. The height of the politics of inflation, 1986–1996; 8. The long cycle: 1998–2006; 9. Concluding discussion.

Über Autor(innen)

Shih, Victor C.
Victor C. Shih is a political economist specializing in China at Northwestern University. Born in Hong Kong, Professor Shih immigrated to the United States at the age of 12. He attended the George Washington University on a University Presidential Fellowship and graduated summa cum laude in East Asian Studies with a minor in Economics. He went on to complete his M.A. and Ph.D. in Government at Harvard University. He is the author of numerous articles appearing in academic and business journals, including The China Quarterly and The Far Eastern Economic Review, and advises the private sector on the banking industry in China. His current research concerns the political economy of fiscal transfers in China and Chinese policies toward ethnic minorities.