In China, securitization has been promoted as a means of reducing reliance on the shadow banking system, and to ensure … Chinese securitization market. Whilst the US securitization market developed as a means to accelerate liquidity, the Chinese … securitization market was initially established to deal with NPLs. I discuss the pre- and post-2008 Chinese securitization market. In …

intermediated through arms-length transactions, such as securitization. This paper documents these trends, explores their causes … structural model to explore whether technological improvements in securitization, shifts in saver preferences away from deposits …, and changes in implicit subsidies and costs of bank activities can explain these shifts. Declines in securitization cost …