The 2009 surge in bank lending in China was accompanied by allegations that substantial funds had been funneled into the nation's stock and property markets. Using data from 1999 to 2011, possible linkages between lending activity, real estate prices, stock prices, and inflation are examined. We...

Financial liberalization in China has begun to allow more flexibility in bank interest rate setting but may threaten bank profit margins. This paper documents the initial response to the June 2012 initiative that, for the first time, allowed Chinese banks to meaningfully depart from the...

Given its nonperforming loan ratio of over 20 percent in 2007 and its concentration on poorer areas, the Agricultural Bank of China (ABC) seemed an unlikely candidate for a successful initial public offering. The major capital injection the bank received in November 2008 was preceded by signs of...

The emergence of self-governing social organizations is one of the most significant yet unexplored developments in rural China. By conducting a nationwide village-level survey, we find that these organizations are playing an important role in the provision of local public goods and services. To...

Drawing on a survey of migrants in 12 cities across four major urbanising areas in China, this paper analyses rural migrants’ intention for permanent urban settlement. We focus on one sizeable but often overlooked group of rural migrants, that is, the self-employed. Our hypothesis is that...

Based on the theoretical literature of fiscal decentralization, we discuss the political economy of inter-governmental fiscal arrangements in China and examine how a transfer-based decentralization impacts on local public employment. A theoretical model is built to show that compared to their...

China's fiscal arrangement in the 1980s has preserved local governments' incentive but the 1994 fiscal reform recentralized revenues. Since then, farmers' tax burdens have risen steeply and become a major challenge to the state legitimacy. How to account for the huge regional variation? Why were...

Rural-urban migration and housing for the urban poor have attracted worldwide attention from both scholars and policy makers. In China, empirical studies have revealed tremendous discrimination experienced by temporary migrants in the urban housing system, but most have emphasized constraints by...

type="main" <p>This essay draws on an original cross-sectional survey of 1,010 children and their guardians in highly migratory regions of Anhui and Jiangxi provinces located in China's interior. It uses propensity score matching, a technique that mitigates endogenity, to examine the impact of...</p>