Reputation and Product Quality
In: The Rand journal of economics, Band 15, Heft 3, S. 311
ISSN: 1756-2171
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In: The Rand journal of economics, Band 15, Heft 3, S. 311
ISSN: 1756-2171
In: The Bell journal of economics, Band 13, Heft 2, S. 541
In: American Legion Magazine, Band 85, S. 20-24
In: The international library of critical writings in economics 218
In: An Elgar reference collection
In: Forthcoming in the Research Handbook of Alternative Finance
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In: Annual Review of Financial Economics, Band 13, S. 129-151
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China's shadow banking has been rising rapidly in the last decade, mainly driven by regulations for banks, the Fiscal Stimulus Plan in 2008 and credit constraints in restrictive industries. This sector has continued growing although the regulators repeatedly attempted to impose new regulations on banks and nonbanks. The existence of shadow banking fulfills the high demand for funding. The standard view is that it poses risks to financial stability. However, in China, this is not necessarily the case. Entrusted loans, implicit guarantees from nonbanks, banks or government may provide a second‐best arrangement in funding risky projects and improving welfare.
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In: The Manchester School, Band 89, Heft 5, S. 407-419
ISSN: 1467-9957
AbstractChina's shadow banking has been rising rapidly in the last decade, mainly driven by regulations for banks, the Fiscal Stimulus Plan in 2008 and credit constraints in restrictive industries. This sector has continued growing although the regulators repeatedly attempted to impose new regulations on banks and nonbanks. The existence of shadow banking fulfills the high demand for funding. The standard view is that it poses risks to financial stability. However, in China, this is not necessarily the case. Entrusted loans, implicit guarantees from nonbanks, banks or government may provide a second‐best arrangement in funding risky projects and improving welfare.
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Working paper
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Working paper
In: CEPR Discussion Paper No. DP12761
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Working paper