| Status | 已發表Published |
| On the Role of the Chinese Government in the Institutional Evolution of China’s Financial System. | |
Sheng, L.
| |
| 2008-10-01 | |
| Source Publication | Journal of Macau Studies
 |
| ISSN | 0872-8526 |
| Pages | 102-110 |
| Abstract | McKinnon and Shaw argue that financial “repression”, especially in the form of government’s regulation on interest rates, hampers the banking sector, which is often the sole purveyors of financial intermediation in developing nations, stifling economic development by misallocating capital resources. They suggest the developing countries to liberalize their financial system via withdrawing government intervention, so that efficient financial resources allocation and therefore higher economic growth may be realized.1 Being a doctrine of financial economics, Mackinnon-Shaw Hypothesis is widely accepted within the academic circle and often used by international agencies such as the IMF and the World Bank to persuade/ force developing countries to liberate their interest rates, open up the banking sector to foreign ownership, privatize commercial banks, and abandon any capital control etc. |
| Keyword | IMF financial constraint |
| URL | View the original |
| Language | 英語English |
| The Source to Article | PB_Publication |
| PUB ID | 33949 |
| Document Type | Journal article |
| Collection | Faculty of Social Sciences |
| Corresponding Author | Sheng, L. |
| Recommended Citation GB/T 7714 | Sheng, L.. On the Role of the Chinese Government in the Institutional Evolution of China’s Financial System.[J]. Journal of Macau Studies, 2008, 102-110. |
| APA | Sheng, L..(2008). On the Role of the Chinese Government in the Institutional Evolution of China’s Financial System.. Journal of Macau Studies, 102-110. |
| MLA | Sheng, L.."On the Role of the Chinese Government in the Institutional Evolution of China’s Financial System.".Journal of Macau Studies (2008):102-110. |
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