In this paper, we present two stylized models of the financial system. We make the case that in order to realize the potential of a well-functioning complete financial market, financial system designers and financial service providers will need to think about ways to deliver financial...

We will provide a survey as well as a preliminary analysis on Chinas economic reform. Section II provides a brief overview of Chinas economic development from 1949 to present. Section III analyses the economic reform in the early 1980s. The planned economy was not sustainable because the...