This paper looks at the development and transformation of the People's Republic of China (PRC)'s financial system since the start of economic and financial reforms in 1978. It describes how despite the rapid development of capital markets since the 1990s, the PRC's financial system continues to...

This paper looks at the development and transformation of the People's Republic of China (PRC)'s financial system since the start of economic and financial reforms in 1978. It describes how despite the rapid development of capital markets since the 1990s, the PRC's financial system continues to...

The legal and political explanations that underpin the contemporary literature on corporate governance have focused how the prevailing political or legal system determines how large corporations are governed. They imply that in order to facilitate good corporate practices, emerging economies...

It is widely assumed that there are no close precedents against which to benchmark the internationalisation of the renminbi (RMB). This paper argues that this overlooks the PRC's own recent economic history. This paper shows that efforts to internationalise the RMB in the 1970s offer important...

One of the puzzling features of China's post-1978 economic reforms is how quickly its enterprises adapted to the new business environment. An insight into this puzzle is provided by Chinese state-owned banks in Hong Kong. From 1949-78 these state-run banks, led by the Bank of China (BOC),...

The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional monetary integration and even monetary unification in...