Informal Finance in China: American and Chinese Perspectives by Jianjun LiInformal Finance in China: American and Chinese Perspectives by Jianjun Li

Informal Finance in China: American and Chinese Perspectives

EditorJianjun Li, Sara Hsu

Hardcover | October 8, 2009

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Informal finance consists of nonbank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. It has provided much-needed financing to small and medium enterprises (SMEs) in particular, in the face of a tightlyconstrained and overburdened formal banking system. Unable to obtain a bank loan, firms have relied upon individuals and informal organizations outside of the banking system to obtain financing for their ventures or working capital (operating funds). Presently there is a scarcity of information oninformal finance in China and it is expected to have a significant impact upon GDP and money supply. This book, with contributions from leading scholars, describes the evolution, characteristics, and variation of informal finance in China from American and Chinese perspectives. Literature by Jiang Shuxia, Jiang Xuzhao, and Li Jianjun has heretofore been available only in Chinese, while work byKellee Tsai, Jianwen Liao, Harold Welsch, David Pistrui, and Sara Hsu has been available in English. For the first time, they come together to discuss informal financing and its many aspects. Most of the essays are based upon original survey research conducted locally, as this type of data is not normally collected by the government. The papers pioneer the description and analysis of the nuances of informal finance from several perspectives; the authors look at the social, cultural,political, and economic causes of informal finance, its many variations, and its economic, personal, and political ramifications.
Jianjun Li is Professor of Finance at Central University of Finance and Economics in Beijing, China. He has published seven books and one hundred papers on informal finance, monetary policy, banking performance measurement, financial crisis, financial reform, and liberalization. Sara Hsu is Visiting Assistant Professor at Trinity Unive...
Title:Informal Finance in China: American and Chinese PerspectivesFormat:HardcoverDimensions:216 pages, 9.29 × 6.1 × 0.79 inPublished:October 8, 2009Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195380649

ISBN - 13:9780195380644


Editorial Reviews

"Informal finance has played a critical role in China's growth miracle and reducing poverty of the last thirty years. More and more people want to know more about it. However, few researches and publications on the topic are available. From my teaching and researching experience in the fieldof development economics and Chinese economy, this is the first book which provides a clear picture of informal finance in China from many different perspectives including history, culture, and region, local, macroeconomic, political and capital management. Meanwhile, the book also provides deepanalysis of informal finance based on detailed surveys conducted locally. The book is sure to become widely used in teaching and researching development economics and Chinese economy." --Xiaopeng Pang, School of Agricultural Economics and Rural Development, Renmin University of China