The development of China's stock market, 1984-2002 : equity politics and market institutions / / Stephen Green

• Autore: Green Stephen <1972->
• Pubblicazione: London ; ; New York, : Routledge, 2004
• Edizione: 1st ed.
• Descrizione fisica: xv, 287 p
• Disciplina: 332.64/2451
• Soggetto topico: Stock exchanges - China
• Soggetto geografico: China Economic policy 1976-2000; China Economic policy 2000-
• Note generali: "Simultaneously published in the USA and Canada."
• Nota di bibliografia: Includes bibliographical references (p. [269]-280) and index.
• Nota di contenuto: Intro -- The Development of China's Stock Market, 1984-2002 Equity politics and market institutions -- Copyright -- Contents -- List of illustrations -- Acknowledgements -- List of abbreviations -- Introduction -- Part I Explaining institutional change -- 1 Stock market regulation and institutional change in reform China -- Equity institutions in China and the West -- Explaining institutional change -- Research question, design and problems -- A preview of the argument -- Chapter plan -- 2 Investors, bureaucrats and the institutions of the Chinese state -- Stock market investors: institutions, individuals and interests -- The state: actors and interests -- Co-ordinating the Chinese state -- Concluding remarks -- Part II Local institutional capture -- 3 Nascent equity markets and local institution building, 1984-90 -- Shareholding reform and China's first share -- The rush to share issuance and governance problems at the People's Bank -- Reform China's first equity markets -- Post-Tiananmen economic policy -- Establishing the stock exchanges -- Concluding remarks -- 4 Institutional capture by local leaders: share issuance and other problems, 1993-97 -- The Securities Management Commissions -- The Securities Administration Offices -- The prize of institutional capture: the issuance process -- Concluding remarks -- 5 Equity developmentalism unbound: the capture of secondary market institutions in Shenzhen and Shanghai, 1995-97 -- Sharing the spoils: the stamp tax -- Equity developmentalism in Shenzhen -- Equity developmentalism in Shanghai -- The centre responds: from fire-fighting to institutional change -- Concluding remarks -- 6 The Shanghai and Shenzhen stock exchanges: from local control to 'sons of the CSRC', 1990-2002 -- The Shanghai Stock Exchange, the PBoC and self-regulation, 1990-92 -- The CSRC and the stock exchanges, 1993-95. ; Central institutional capture: the CSRC takes control -- Concluding remarks -- 7 Local institution making and the securities trading centres, 1984-98 -- The bond trading centres and informal share trading -- The securities trading centres -- The Shanghai Stock Exchange and the securities trading centres -- Individual securities trading centres -- Regulation of the securities trading centres -- Rectification of the securities trading centres -- Local investment funds -- Concluding remarks -- Part III Central institutional capture -- 8 Institutional creation and development: the China Securities Regulatory Commission, 1992-98 -- Deng Xiaoping's southern tour, the 8.10 Shenzhen crisis and the creation of the CSRC -- The development of the CSRC, 1993-96 -- The empowerment of the CSRC, 1997-98 -- Concluding remarks -- 9 Incoherence at the centre: the State Council Securities Commission and CSRC-PBoC relations 1992-98 -- Early attempts at co-ordination within central government -- The State Council Securities Commission -- The SCSC Office -- Regulatory competition within the central government: the PBoC Regulatory competition within the central government: the PBoC -- Concluding remarks -- 10 Drafting the Securities Law: the role of the National People's Congress in creating institutions, 1992-98 -- Legislative institutions and the revival of the National People's Congress -- Drafting the Securities Law, August 1992-August 1993: the Finance and Economic Committee's radical first draft -- Redrafting the Securities Law, August-December 1993: the Commission for Legislative Affairs -- Redrafting the Securities Law, again, March-December 1994: the search for compromise -- Drafting paralysis at the NPC, December 1995-March 1998: the turn of the CSRC -- Drafting revival, March-October 1998: the rush to compromise within the NPCSC. ; The end game, November-December 1998: the NPCSC constrains the CSRC -- Concluding remarks -- Part IV Conclusions -- 11 Socialist market regulation -- Equity institutions: a comparative perspective -- The CSRC and the Securities and Exchange Commission compared -- Concluding remarks -- 12 China's stock market and the changing policy priorities of the State Council -- The stock market and industrial policy, 1997-2000 -- A new set of priorities for the stock market, 2001-02 -- Concluding remarks -- 13 Equity politics and market institutions -- Co-ordinating the Chinese state -- The North paradox: can markets develop without institutions? -- The future of China's stock market -- Appendix: Interview details -- Notes -- References -- Index.
• Sommario/riassunto: As China's government manages a transition away from the socialist plan, how does it build the regulatory institutions it needs to manage the new market economy? Without the correct institutions, laws and agencies that implement the laws in place, the remarkable growth witnessed in China over the last two decades will falter. Financial sector reform lies at the heart of China's economic transition and China's stock market has become critical to the reform of state-owned industry, the supply of fiscal revenues and in building a modern pension system. The Development of China's Stockmarket takes a close look at the policy-making and regulatory institutions the government has created to manage equity development and shows how, in contrast to neo-institutional and economic theories of regulatory development, public actors have controlled institutional development. Based on extensive field research in Shanghai, Shenzhen and Beijing and over forty interviews with regulators and market players, The Development of China's Stockmarket provides the first detailed academic analysis of the country's stockmarket. With a comprehensive review of Chinese language literature available on the subject, this book is essential reading for all scholars with an interest in Asian Business and China's transition from socialism.
• Titolo autorizzato: The development of China's stock market, 1984-2002
• ISBN: 1-138-37668-X; 0-203-35720-5; 1-280-07582-1
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910956999703321
• Lo trovi qui: Univ. Federico II
• Serie: RoutledgeCurzon studies on China in transition.