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Record Nr. |
UNINA9910788229203321 |
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Autore |
Feyzioglu Tarhan |
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Titolo |
Interest Rate Liberalization in China / / Tarhan Feyzioglu, Nathan Porter, Elöd Takáts |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2009 |
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ISBN |
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1-4623-2751-6 |
1-4527-0264-0 |
1-4518-7318-2 |
9786612843846 |
1-282-84384-2 |
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Descrizione fisica |
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1 online resource (30 p.) |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Interest rates - Government policy - China |
Monetary policy - China |
Banks and Banking |
Industries: Financial Services |
Money and Monetary Policy |
Market Structure and Pricing: Oligopoly and Other Forms of Market Imperfection |
Interest Rates: Determination, Term Structure, and Effects |
Central Banks and Their Policies |
Information and Market Efficiency |
Event Studies |
General Financial Markets: Government Policy and Regulation |
Banks |
Depository Institutions |
Micro Finance Institutions |
Mortgages |
Finance |
Banking |
Monetary economics |
Deposit rates |
Interbank rates |
Loans |
Commercial banks |
Financial services |
Financial institutions |
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Interest rate policy |
Monetary policy |
Interest rates |
Banks and banking |
China, People's Republic of |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di contenuto |
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Contents; I. Introduction; II. A Model of China's Banking Sector; A. Baseline Oligopoly Model; B. Calibration; III. How May Interest Rate Liberalization Change Chinese Banking?; A. The Impact of Liberalization; B. Robustness; IV. What Has Been the Experience with Liberalization Elsewhere?; Box: Key Dates in Interest Rate liberalization in China; A. Nordic Countries; B. Savings and Loan in the U.S.; C. Turkey; D. Korea; E. Lessons; V. Conclusion; Technical Appendix; References |
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Sommario/riassunto |
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What might interest rate liberalization do to intermediation and the cost of capital in China? China's most binding interest rate control is a ceiling on the deposit rate, although lending rates are also regulated. Through case studies and model-based simulations, we find that liberalization will likely result in higher interest rates, discourage marginal investment, improve the effectiveness of intermediation and monetary transmission, and enhance the financial access of underserved sectors. This can occur without any major disruption. International experience suggests, however, that achieving these benefits without unnecessary instability, requires vigilant supervision, governance, and monetary policy, and a flexible policy toolkit. |
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