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Asian Economic Policy Review (Vol. 12 Issue 2)

China’s Financial Transformation

2017-07/25, Published

*The articles in this journal can be purchased at Wiley Online Library.

About AEPR
Japan Center for Economic Research (JCER) launched an English journal entitled Asian Economic Policy Review (AEPR) in June 2006. The journal is published twice a year through John Wiley & Sons. Visit the journal website (Wiley Online Library) for more information.

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Summary of this issue

 China’s financial transformation has become more important than ever as the weight of the Chinese economy in the global economy rises continuously. The issue focuses on various topics including the banking system reform in the country, RBM’s internationalization and China’s new role in the international financial architecture.

Articles in this issue

*You can get access to the abstract and full text of the article at Wiley Online Library by clicking on its title link.

Editors’ Overview
 Takatoshi ITO (Columbia University)
 Kazumasa IWATA (Japan Center for Economic Research)
 Colin MCKENZIE (Keio University)
 Shujiro URATA (Waseda University)


Building an Efficient Financial System in China: A Need for Stronger Market Discipline
 Yiping HUANG (Peking University)
 Xu WANG (Peking University)

Local Government Debt and Firm Leverage: Evidence from China
 Yousha LIANG (Zhejiang University)
 Kang SHI (Chinese University of Hong Kong)
 Lisheng WANG (Chinese University of Hong Kong)
 Juanyi XU (Hong Kong University of Science and Technology)

The Boom and Bust of the RMB’s Internationalization: A Perspective from Cross-Border Arbitrage
 Ming ZHANG (Institute of World Economics and Politics)
 Bin ZHANG (Institute of World Economics and Politicsy)

China’s New Role in the International Financial Architecture
 Peter DRYSDALE (Australian National University)
 Adam TRIGGS (Australian National University)
 Jiao WANG (Australian National University)

The Current Wave of State Enterprise Reform in China: A Preliminary Appraisal
 Barry NAUGHTON (University of California San Diego)

Banking System Reform in China: The Challenges to Improving Its Efficiency in Serving the Real Economy
 Kumiko OKAZAKI (The Canon Institute for Global Studies)

Takatoshi Ito: Professor, Columbia University
Kazumasa Iwata: President, Japan Center for Economic Research
Shujiro Urata: Professor, Waseda University

Managing Editor
Colin McKenzie: Professor, Keio University

Founding Editor
Akira Kojima: Advisor, Japan Center for Economic Research

Associate Editors
Mohamed Ariff (Malaysia): Distinguished Fellow, Malaysian Institute of Economic Research, and Professor, International Center for Education in Islamic Finance
Muhammad Chatib Basri (Indonesia): Senior Lecturer, University of Indonesia
Hal Hill (Australia): Professor, Australian National University
Yiping Huang (China): Professor, Peking University
Jong-Wha Lee (Korea): Professor, Korea University
Marcus Noland (USA): Executive Vice President and Director of Studies, Peterson Institute for International Economics
Euston Quah (Singapore): Professor, Nanyang Technological University
Chalongphob Sussangkarn (Thailand): Distinguished Fellow, Thailand Development Research Institute
Akihiko Tanaka (Japan): President, National Graduate Institute for Policy Studies (GRIPS)