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| 1 |
ID:
094384
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2010.
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| Summary/Abstract |
This paper examines whether reforms have created a substantial commercial sector with market characteristics in China's financial system. Many studies conclude that the operation of China's capital markets lacks market features, resulting in fragmentation. Yet, this lack of integration coincides with rapid and continuous economic growth. We study the dynamic pattern of domestic capital mobility with a unique data set on provincial savings and investment, which allows us to examine components as well as aggregates. After stripping out foreign and officially influenced funds, we find that the behavior of capital flows in what we define as China's commercial sector looks increasingly like that of interstate flows in the US and other advanced nations. Tracking the direction and size of capital flows also highlights the different behavior of commercial and non-commercial funds transfers in China. This result undercuts the widespread view of China's economy as lacking domestic integration.
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| 2 |
ID:
031087
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| Publication |
Paris, OECD publications, 1970.
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| Description |
64p.
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Copies: C:1/I:0,R:0,Q:0
Circulation
| Accession# | Call# | Current Location | Status | Policy | Location |
| 005488 | 332.04209489/OEC 005488 | Main | On Shelf | General | |
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| 3 |
ID:
114843
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| 4 |
ID:
059289
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| 5 |
ID:
130053
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2014.
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| Summary/Abstract |
Demographic trends portend the rapid ageing of Developing Asia (DA), albeit at varying rates. This phenomenon, along with the need to extend coverage of social protection systems is likely to increase public and private expenditure on social protection, particularly for pensions and healthcare. This paper analyses the options for additional financing of social protection in DA. As total national and fiscal resources devoted to social protection increase, an important issue will be how the additional burden is shared between different sectors, and financing instruments. The paper, however, focuses on options to finance additional social protection expenditure. Three broad options are suggested: first, realizing efficiency gains in managing provident and pension fund organizations; second, design and service delivery innovations including better policy coordination and coherence within and amongst healthcare and pension programmes; third, developing capabilities to obtain resources from conventional and unconventional sources of budgetary revenue. The paper also stresses that complementary reforms in fiscal, labour market, financial and capital markets will be needed to manage rapid ageing in DA, and therefore the issue of ageing should be viewed as involving several economic and social arrangements, and not in isolation.
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| 6 |
ID:
160426
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This article casts new light on the role played by post-handover Hong Kong in China’s financial globalization. The power of the city’s markets aside, Hong Kong possesses critical political leverage that has facilitated Beijing’s liberalizing of its domestic capital market and its projection of international financial power.
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| 7 |
ID:
079063
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2007.
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| Summary/Abstract |
This paper analyzes institutional defects in the Chinese social security system, based on irregularities in social security funds revealed in the Audit Report by the China National Audit Office. The author divides the irregularities into five categories according to the nature of fund use. The results show that the institutional root cause of the irregularities lies in the unreasonable design and operation of the social security system, which currently faces management and institutional risks. This paper argues that simple rhetoric about strengthening regulation and supervision cannot help to reduce illegal practices, or to realize risk control. The only solution is to reform the social security system. Specifically, the Chinese Government should regulate the administrative cost of the social security system, and the behavior of its agencies, through legislation, reform the investment regime to increase rate of return of pension assets, and adjust and reshape the existing social security system, so as to elevate its pooling level
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| 8 |
ID:
106414
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2011.
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| Summary/Abstract |
Since the beginning of the global trade in securities, bonds and currencies, three cities have emerged as the world's preeminent money centers: New York (Wall Street), London (The City) and Tokyo. They exert enormous influence on the world's economic agenda, and their cultures subtly shape the world of finance. But today, with the emergence of dynamic economies and societies in the developing world, there has emerged a host of new potential global financial centers. The list is long: Mumbai, Singapore, Hong Kong, Seoul, Dubai, Lagos, Johannesburg. None yet rivals the current
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| 9 |
ID:
172083
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| 10 |
ID:
110097
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2011.
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| Summary/Abstract |
IN THE STUDY OF THE REGULATION of the export of goods, services, and capital, scholars traditionally focus on the regulation of their export from the territory of a country - in particular, the export of goods, export quotas, export control systems, state support of exports, etc. Nevertheless, in the regulation of exports, leading countries are giving increasing importance to lowering trade and investment barriers abroad and assuring favorable conditions on international markets for national exporters and investors, which is reflected, among others, in the U.S. National Export Initiative that was adopted in 2010. For this reason, I propose separating two different types of export regulations: (1) the regulation of the export of goods, services, and capital from a country's territory and (2) the regulation of the import of goods, services, and capital to the markets of foreign countries.
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| 11 |
ID:
122645
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2013.
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| Summary/Abstract |
The emergence of China as a powerhouse of the world economy has added a new dimension to the global currency market. China's impressive economic growth and phenomenal rise in exports have given considerable strength to its currency yuan in recent years. To what extent will China push to make the yuan the world's reserve currency has become a burning issue. Currently, the share of yuan in total world reserves is hardly 1 per cent. The reasons are obvious. The yuan is not fully convertible, the capital market is shallow, the exchange rate is not flexible and international acceptance of yuan as a store of value is non-existent. In the face of these constraints, China is showing an inclination to make the yuan an international currency and to rival the US dollar and euro. Increase in the inflow of foreign direct investment as well as outflow of investment abroad is enabling China to move towards internationalisation of yuan in the near future. Regionalisation of the yuan is gaining importance with rise in its international trade in Asia. China has now allowed the commercial banks in Hong Kong to accept the yuan-denominated deposits. It is further extending loans in yuan to developing countries. Many steps are being taken towards making the yuan an international reserve currency. At the outset, it appears that the yuan would become an international currency in the foreseeable future.
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