Financing Chinas Industrial Adjustment
The research project examines how social and political groups make critical policy choices in a challenging economic context. Focusing on the sub-provincial cases in China, the project aims to examine the process of financial reform during a period of declining economic growth. Examining the government-business relations, the research addresses the challenges that the Chinese political elites face to address the critical needs of diversifying its financial system in order to facilitate economic growth without losing control and oversight over its institutions. From a theoretical perspective, the project aims to shed light on state-building through regulatory reform in a unique political system like China during a period of industrial adjustment. From an empirical perspective, the project contributes our understanding on how an East Asian developmental state adapts to Western financial system by localizing financial practices.