The Properties of The Shadow Banking in China

Öz

The aim of this study is to define the properties of the shadow banking system in China.The shadow banking system has been paid attention since the subprime crisis because the spread of this finance form over the all around world was one of the most significant causes of the subprime crisis. The shadow banking is nourished from the Chinese state capitalism which is designed to allocate loans to important industries so SME are dependent on the shadow banking. Since excessively increase in leverage through financial engineering and purpose-made state capitalism create irresistible burden on financial market, the shadow banking system is by far the important factors in order to build stable financial market. While considering these issues, it was understood that the shadow banking system is significant issue in order to build strong financial efficiency and stability.

Anahtar Kelimeler

• The Shadow Banking,The State Capitalism,The Informal Finance

Kaynakça

1. Board, S. F. S. R Gandhi (21 August 2014.) Danger posed by shadow banking systems to the global financial system–the Indian case.International Conference “Governance & Development: Views from G20 Countries”, Mumbai.
2. Bordo, M. D., & Wheelock, D. C. (2007). Stock Market Booms And Monetary Policy In The Twentieth Century. Reviev-Federal Reserve Bank of Saint Louis, 89(2), 91-122.
3. Brehm, S. (2008).Risk management in China’s state banks–international best practice and the political economy of regulation. Business and politics, 10(1), 1-29.
4. Calvo, G. (2009). Lender of last resort: Put it on the agenda. VOX: March, 23.Retrieved fromhttp://voxeu.org/article/establishing-global-lender-last-resort.
5. Claessens, S., Kose, M. A., &Terrones, M. E. (2010, September). Financial cycles: what? how? when?. In NBER International Seminar on Macroeconomics 2010 (pp. 303-343).University of Chicago Press.
6. Gennaioli, N., Shleifer, A., &Vishny, R. W. (2013).A model of shadow banking. The Journal of Finance, 68(4), 1331-1363.
7. Guo L. &Xia D.,“InSearch of a Place in the Sun,” Supranote 11, p. 408.
8. Guo, L., & Xia, M. D. (2014). In search of a place in the sun: the shadow banking system with Chinese characteristics. European Business Organization Law Review, 15(3), 387-418.

9. Jackson, B. F. (2013). Danger lurking in the shadows: why regulators lack the authority to effectively fight contagion in the shadow banking system. Harvard LawReview, Vol. 127, No. 2, 729-750.
10. Johnson, C. (1982). MITI and the Japanese miracle: the growth of industrial policy: 1925-1975. Stanford University Press.
11. Lee, E. (2015). Shadow banking system in china after the global financial crisis: Why Shadow Banks Can Distort the Capital Market Order. Peking University Law Journal, 3(2), 361-384.
12. Li, J., & Hu, F. (2013).Zhongguozhongxiaoqiyejinrongjiegou, rongzichengbenyuxinzixindaishichangfazhan [Financing structure and cost of China's small and medium-sized enterprises and development of the shadow credit market]. Hongguanjingjiyanjiu [Macroeconomic research], 5, 7-11.
13. Pol, E. (2012).The preponderant causes of the USA banking crisis 2007–08. The Journal of Socio-Economics, 41(5), 519-528.
14. Rahman, M. W., &Luo, J. (2012). Regulation of microfinance service provider in China and Bangladesh: An approach to strengthening the regulatory environment.AfricanJournal of Business Management, Vol. 6, No. 3, pp. 1019-1033.
15. Ren, D. (March 23, 2015). “BankingWatchdogMullsTighter Rules on P2P Online Lending,” South ChinaMorning Post, Retrievedfromhttp://www.scmp.com/business/china-business/article/1744711/china-mullstighter-rules-booming-p2plending-business, lastvisited April 20, 2015.
16. Tsai, K. S. (2002). Back-alley banking: The private sector in contemporary China. NY: Cornell UniversityPress.
17. Tsai, K. S. (2015). The political economy of state capitalism and shadow banking in China.Issues&Studies, 51(2), 55–97.
18. Tucker, P. (2012, April). Shadow banking: thoughts for a possible policy agenda. In speech at the European Commission High Level Conference, Brussels,(Vol. 27).
19. Wang, B.L., & Li, J.J. (2013). The size of Chinese shadow banking, risk assessment and supervision ,Journal of Central University of Finance & Economics, 1(5), 20-25.
20. Weinland, D., &Ren, D. (2015). Banks cautious about easing of funding rule in Shanghai free-trade zone. South ChinaMorning Post.Retrievedfromhttp://www.scmp.com/business/economy/article/1678398/npls-overwhelm-chinese-lenders-state-badbanks-look-other-way.
21. Yang, M., & Yao, J. (2013).China's Shadow Banking in Spotlight. East Asian Policy, 5(04), 65-75.