This Technical Paper is a study of the working of urban credit cooperatives in China. It begins by putting the German, French, US and Japanese experiences into perspective, before constructing a macroeconomic analysis of the operation, institutional context and the role of urban credit...

Internet based technologies, such as mobile payments, social networks, search engines and cloud computation, will lead to a paradigm shift in financial sector. Beside indirect financing via commercial banks and direct financing through security markets, a third way to conduct financial...