LEADER 05225oam 22012134 450 001 9910788229203321 005 20230721045711.0 010 $a1-4623-2751-6 010 $a1-4527-0264-0 010 $a1-4518-7318-2 010 $a9786612843846 010 $a1-282-84384-2 035 $a(CKB)3170000000055324 035 $a(EBL)1608400 035 $a(SSID)ssj0000941801 035 $a(PQKBManifestationID)11614165 035 $a(PQKBTitleCode)TC0000941801 035 $a(PQKBWorkID)10964435 035 $a(PQKB)10186145 035 $a(OCoLC)649029507 035 $a(MiAaPQ)EBC1608400 035 $a(IMF)WPIEE2009171 035 $a(EXLCZ)993170000000055324 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aInterest Rate Liberalization in China /$fTarhan Feyzioglu, Nathan Porter, Elöd Takáts 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (30 p.) 225 1 $aIMF Working Papers 300 $a"August 2009." 311 $a1-4519-1746-5 327 $aContents; 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 330 3 $aWhat might interest rate liberalization do to intermediation and the cost of capital in China? China's most binding interest rate control is a ceiling on the deposit rate, although lending rates are also regulated. Through case studies and model-based simulations, we find that liberalization will likely result in higher interest rates, discourage marginal investment, improve the effectiveness of intermediation and monetary transmission, and enhance the financial access of underserved sectors. This can occur without any major disruption. International experience suggests, however, that achieving these benefits without unnecessary instability, requires vigilant supervision, governance, and monetary policy, and a flexible policy toolkit. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/171 606 $aInterest rates$xGovernment policy$zChina 606 $aMonetary policy$zChina 606 $aBanks and Banking$2imf 606 $aIndustries: Financial Services$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMarket Structure and Pricing: Oligopoly and Other Forms of Market Imperfection$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aCentral Banks and Their Policies$2imf 606 $aInformation and Market Efficiency$2imf 606 $aEvent Studies$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aFinance$2imf 606 $aBanking$2imf 606 $aMonetary economics$2imf 606 $aDeposit rates$2imf 606 $aInterbank rates$2imf 606 $aLoans$2imf 606 $aCommercial banks$2imf 606 $aFinancial services$2imf 606 $aFinancial institutions$2imf 606 $aInterest rate policy$2imf 606 $aMonetary policy$2imf 606 $aInterest rates$2imf 606 $aBanks and banking$2imf 607 $aChina, People's Republic of$2imf 615 0$aInterest rates$xGovernment policy 615 0$aMonetary policy 615 7$aBanks and Banking 615 7$aIndustries: Financial Services 615 7$aMoney and Monetary Policy 615 7$aMarket Structure and Pricing: Oligopoly and Other Forms of Market Imperfection 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aCentral Banks and Their Policies 615 7$aInformation and Market Efficiency 615 7$aEvent Studies 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aFinance 615 7$aBanking 615 7$aMonetary economics 615 7$aDeposit rates 615 7$aInterbank rates 615 7$aLoans 615 7$aCommercial banks 615 7$aFinancial services 615 7$aFinancial institutions 615 7$aInterest rate policy 615 7$aMonetary policy 615 7$aInterest rates 615 7$aBanks and banking 700 $aFeyzioglu$b Tarhan$01168803 701 $aPorter$b Nathan$01485138 701 $aTakáts$b Elöd$0630729 712 02$aInternational Monetary Fund.$bAsia and Pacific Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788229203321 996 $aInterest Rate Liberalization in China$93704121 997 $aUNINA