Over the four decades since the Four Modernizations program began in 1978, China has matured from a capital … development of financial intermediation in China, this chapter considers the social responsibility of financial intermediaries to … -- highly-localized yet also the center of pan-China network of folk-lending. Financial innovation is causing a shift in SME …

Using data from a recent survey of bank and enterprise managers and government officials in southern China, we present …

Russian banking industry, evaluates the reform agenda of the monetary authority, and argues for an overall reform program in …

survey of rural financial institutions in China, we empirically assess the determinants of decentralization. We find that …Decentralization facilitates more efficient use of local information but also can lead to agency problems and … concerns over agency problems (collusion and government influence) and especially commitment failures (excessive refinancing …

-problem approach) that explain shortage, lack of innovation in centralized economies, devolution, and banking reform in transition …This paper surveys the theoretical literature on the effect of soft budget constraints on economies in transition from …

This paper examines the effect of banking on economic growth in modern Russia. To overcome simultaneity and selection …, we exploit regional banking variation induced by the creation of ?specialized banks? (spetsbanks) in the last years of … uncorrelated with 15 predictors of future growth, including pre-banking income, education, anti-market sentiment, institutional …

study these methods - liquidation, repayment plans, loan modification, and refinancing - and analyze their effectiveness. We …

study these methods-liquidation, repayment plans, loan modification, and refinancing — and analyze their effectiveness. We …