全球智库信息集成服务系统(G2TT): Risks in China\u2019s Financial System

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w24230
来源ID	Working Paper 24230
	Risks in China\u2019s Financial System
	Zheng Michael Song; Wei Xiong
发表日期	2018-01-22
出版年	2018
语种	英语
摘要	Motivated by growing concerns about the risks and instability of China’s financial system, this article reviews several commonly perceived financial risks and discusses their roots in China’s politico-economic institutions. We emphasize the need to evaluate these risks within China’s unique economic and financial systems, in which the state and non-state sectors coexist and the financial system serves as a key tool of the government to fund its economic policies. Overall, we argue that: (1) financial crisis is unlikely to happen in the near future, and (2) the ultimate risk lies with China’s economic growth, as a vicious circle of distortions in the financial system lowers the efficiency of capital allocation and economic growth and will eventually exacerbate financial risks in the long run.
主题	Macroeconomics ; Financial Economics
URL	https://www.nber.org/papers/w24230
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/581903
推荐引用方式 GB/T 7714	Zheng Michael Song,Wei Xiong. Risks in China\u2019s Financial System. 2018.