10 research outputs found
London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation
China’s currency, the Renminbi (RMB), is increasingly important in global financial markets, facilitated by the global expansion of offshore RMB centres. This paper examines London’s development as the first Western offshore RMB centre established in 2013, drawing on original research conducted between 2013 and 2015 in London and China. The longitudinal analysis reveals that the development of RMB finance in London is characterised by selective adaptation in which state-private bargaining dynamics have shifted from strategic alignment to a bifurcation of interests. Understanding these state-finance relations has important implications for research and policymaking concerned with (offshore) financial centres and RMB internationalisation
Exploring the ‘middle ground’ between state and market: the example of China
Studies of housing systems lying in the ‘middle ground’ between state and market are subject to three important shortcomings. First, the widely used Esping-Andersen (EA) approach assesses only a subset of the key housing outcomes and may be less helpful for describing changes in housing policy regimes. Second, there is too much emphasis on tenure transitions, and an assumed close correspondence between tenure labels and effective system functioning may not be valid. Third, due attention has not been given to the spatial dimensions in which housing systems operate, in particular when housing policies have a significant devolved or localised emphasis. Updating EA’s framework, we suggest a preliminary list of housing system indicators in order to capture the nature of the housing systems being developed and devolved. We verified the applicability of this indicator system with the case of China. This illustrates clearly the need for a more nuanced and systematic basis for categorising differences and changes in welfare and housing policies
Chinese Experience of Advancing Financial Inclusion in Light of Foster’s Three Limiting Conditions in Institutional Change
Information Disclosure, Market Discipline and the Management of Bank Capital: Evidence from the Chinese Financial Sector
Market discipline, Capital, Risk management, Chinese banking, G21, G28,