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ID: 133266

Does property rights reform improve the efficiency of China's s / Wang, Qian; Feng, Xiaochu

Wang, Qian	Journal Article
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2014.

Summary/Abstract

China's state-owned banks have undergone radical changes over the past two decades, including partial privatization and listing in both the Hong Kong Stock Exchange and the Shanghai Stock Exchange. This paper evaluates the effects of these changes by analyzing the efficiency of Chinese banks over the period 1998-2012 using two frontier techniques and comparative analysis. The findings suggest that the performance and technical efficiency of the Big Four banks improved considerably after property rights reform, but this improvement is not sufficient to keep the banks at the production frontier. Tobit regressions confirm that static ownership effects are negative but that the property rights reform has had significant and positive effects on the technical efficiency of state-owned commercial banks. GDP growth and the financial crisis have had positive effects on the efficiency of Chinese banks, which is more significant for joint stock commercial banks than state-owned commercial banks. The results indicate the value of ownership reforms of state-owned asset management companies and insurance companies and the establishment of a countercyclical capital buffer.

Key Words

Economic Crisis ; China ; Financial Crisis ; Comparative Analysis ; Chinese Economy ; Banking Efficiency ;
Banking System - China ; Commercial Banks ; Property Rights Reform ; State-Owned Bank

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ID: 173253

Leveraging land values for rural development in China after the Sichuan earthquake / Wilczak, Jessica

Wilczak, Jessica	Journal Article
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Since the late 1990s, rural residential land consolidation projects have propelled a wave of rural restructuring across China. Characterized by the creation of concentrated villages, land consolidation is seen as a means of both improving land-use efficiency and promoting rural development. But residential concentration is often funded through the commodification of rural land – a trend that became particularly clear in rural Chengdu after the Wenchuan earthquake. This article explores the implications of land-based rural reconstruction in Chengdu. Drawing on a comparison of three adjacent communities in peri-urban Chengdu, the article argues that the tactics adopted by local leaders in their efforts to generate funds through land consolidation can best be characterized as a process of leveraging rural land values. This leveraging entails not only a risk of failure, but also a diversion of public funds towards projects that enhance the attractiveness of land to urban investors, a removal of control over land from the hands of rural residents, and a deepening of inequalities across communities.

Key Words

Rural Development ; Urbanization ; Chengdu ; Property Rights Reform ; Post-Quake Reconstruction ; Land-Financed Rural Reconstruction ;
Rural Residential Land Consolidation

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