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The Evolution of the Stock Market in China's Transitional Economy (Hardcover, illustrated edition)
Loot Price: R2,908
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The Evolution of the Stock Market in China's Transitional Economy (Hardcover, illustrated edition)
Series: Advances in Chinese Economic Studies series
Expected to ship within 12 - 17 working days
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The establishment of the Shanghai Stock Exchange in December 1990
was a landmark in China's institutional transformation. With this
in mind, the authors consider the factors relating to institutional
change - such as changes in the financial system, the scale and
structure of stock market, operational efficiency and the
regulatory system of the stock market. During the course of its
development the Chinese stock market has experienced speculation,
dramatic fluctuations and violations of market regulations of
frequent and diverse natures. There is therefore, urgent need for
the discussion contained within this volume of best procedure
policies for the establishment of a properly ordered and regulated
market. The authors assess the operational performance of listed
companies, and changes in the external environment such as the
impact of China's accession to the WTO on the stock market. The
authors find that WTO accession will have a more serious impact on
the more heavily protected agricultural sector and on
capital-intensive industries such as automobile, instruments,
cotton and wheat to name a few. They argue that the fundamental
reason for the inefficiency of China's stock market is the weakness
of the competitive mechanism leading to imperfect competition and
rent-seeking activity. This book will be of great interest to
academics and researchers of Asian studies and money and finance.
Multinational enterprise managers, as well as brokers, dealers,
business economists and others involved in the global financial
markets will also find this book of value.
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