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- W75122457 abstract "To mobilize savings and credit with earmarked priority to implement development strategies,financial depression and policy-driven financial institutions dominated the rural financialsystem in China. The ongoing reforms encourage the entry of private capitals into the ruraleconomy to liberalize the rural financial market. By making a retrospective review on theevolution of the rural financial system in China, we find that there has been negligibleprogress. The policy-led financial institutions ended up as merely a disbursement windowand a costly drain on state budget. Institutional changes were blocked by patching up the existinginstitutions. Current reform faces challenges for a sustainable and pro-poor financialsystem." @default.
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- W75122457 date "2008-01-01" @default.
- W75122457 modified "2023-09-22" @default.
- W75122457 title "Evolution of rural finance in China: institutional lock in or gradualism?" @default.
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