Monetary Policy And The Design Of Financial Institutions In China, 1978-90 (st Antony's/macmillan Series)

## Contents 6 The Banking System and its Operation My principal debt is to Mr Christopher Allsopp and Dr Cyril Lin for their intellectual guidance, advice, criticism and encouragement over the years of my study. I am grateful to Sir Alec Cairncross who read the whole thesis and gave me strong support, and Mr Yongding Yu, Weiying Zhang and Professor Sylvain Plasschaert for their reading of the drafts of, and valuable suggestions for the thesis. I am also grateful to Professor Wlodzimierz Brus and Professor Robert Cassen for their comments on the original outline of the thesis, and Professor Adrian Wood and Dr E. V. K. Fitzgerald for their valuable comments on the final version. In addition, my thanks go to Dr Shujie Yao, Dr Tru-Gin Liu and Dr Duo Qin for their help in some of the early work, and Professor Jinlian Wu and Madam Meizheng Xu for their discussion with the author about the problems in China's economy. I also want to thank Andrew Churchill, Christopher Ashill and Elizabeth Loft-Simson for their help in removing most of my lapses in English grammar. It goes without saying that the author is fully responsible for any of the remaining errors in the work. Among the many people who have helped me to collect materials for this study, I am especially indebted to Duo Xie, Fang Zeng and Hong Zeng. Funding for my study from the World Bank and the British Government's Overseas Research Scholarship is gratefully acknowledged. Finally, I am deeply indebted to my wife Hua who not only provides constant encouragement but also helped to make the study in Oxford financially possible. Front Matter....Pages i-xvii Introduction....Pages 1-14 Economic Reform: Successes and Problems....Pages 15-38 Sources and Processes of Monetary Expansion....Pages 39-74 Credit Expansion and Centre-Locality Game....Pages 75-113 Local Governments’ Ownership and Incentive Compatibility....Pages 114-139 The Banking System and its Operation....Pages 140-166 Tight Money in 1988–9: A Case Study....Pages 167-184 Summary and Policy Issues....Pages 185-203 Back Matter....Pages 204-255 This book is a systematic study of monetary policy and financial institution in China during its decentralisation- and market-oriented economic reform. It not only contains substantial information on money and finance and the operation of financial institutions in China, but also identifies mechanisms of the monetary expansion as the general feature of monetary policy. Leroy Jin. Includes Bibliographical References (p. 229-245) And Index.