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«Incomplete financial reform in China is puzzling because Premier Zhu Rongji, a seemingly promarket technocrat, was largely insulated from explicitly ...»

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Bo, Z., Zhao, J., & Liu, J. (1996). Wenzhou lilu gaige shidian diaocha baogao [Investigation report on the interest rate liberalization experiment in Wenzhou]. Zhejiang Jinrong, 1996(10), 24-28.

Boylan, D. M. (2001). Defusing democracy: Central bank autonomy and the transition from authoritarian rule. Ann Arbor: University of Michigan Press.

Chan, C. (1999, May 29). PBOC plans to give credit co-operatives room to act on rates. The South China Morning Post. Retrieved May 30, 1999, from www.scmp.com Chang, G. (2001). The coming collapse of China. New York: Random House.

Chen, D. (2001, November 14). Shinian xicun jin liangyi: Wenzhou ‘dixia yinhang’ an kaishen [It absorbed close to 200 million in deposits in ten years: The case of Wenzhou “underground bank” convenes in court]. Fazhi Ribao, p. 3.

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Zhejiang minjian ziben shichang [Understanding the “black box” of underground finance:

An investigation of the private capital market in Zhejiang]. Zhongguo Zhengquanbao, p. 4.

Shih / Reform Equilibrium 23 Division of Statistics of People’s Bank of China. (2000). Zhongguo Jinrong Tongji: 1997-1999 [China financial statistics: 1997-1999]. Beijing: China Financial Publisher.

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Hu, B. (2004, July 3). BOCOM dumps NPLs to boost listing prospects; A PBOC loan allows asset manager to take on 41b yuan in doubtful debt. South China Morning Post. Retrieved July 3, 2004, from www.scmp.com Huang, J. (2000). Factionalism in Chinese communist politics. New York: Cambridge University Press.

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The importance of regional political economy. Studies in Comparative International Development, 39(2), 94-120.

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24 Comparative Political Studies Lardy, N. (1998). China’s unfinished economic reform. Washington, DC: Brookings Institution.

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State Information Center. (1999b). Duoxiang zhengce chutai youxiao tuidong guoqi tuokun mubiao de shixian [Implementing numerous policies can effectively push forth the goal of SOE getting out of difficulties]. Zhongguo Hongguan Jingji Xinxi, 1999(38), 15-17.

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Tsai, K. S. (2002). Back-alley banking: Private entrepreneurs in China. Ithaca, NY: Cornell Shih / Reform Equilibrium 25 University Press.

Wang, N. (2005, October 26). Yinhangye jigou zongzichan yu zongfuzhai zengzhang yue 19% [The growth of total assets and liabilities in the banking sector grows by approximately 19%]. Zhongguo Zhengquan Bao, 3.

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Xie, P., Liu, Y., Cheng, J., & Zeng, Y. (2001). Cong tonghuo pangzhang dao tonghuo jinsuo [From inflation to deflation]. Chengdu, Sichuan, China: Southwest University of Finance and Economics Publisher.

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Zhan, X. (2000). Lun zhongguo buliang zhaiquan zhaiwu de huajie [On the dissolution of bad debt and bad debt obligations in China]. Beijing: China Financial Publisher.

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Zhou, X. (2000, September 23). Lilu shichanghua: Lijiu mixin de huati [Interest rate marketization: A topic that is seemingly new but has a long history]. Jinrong Shibao, p. 1.

Zhu, R. (1998). Shenhua jinrong gaige; fangfan jinrong fengxian; kaichuang jinrong gongzuo xin jumian [Deepening financial reform; prevent financial risks; create a new phase for financial work]. In Document Research Center of the Chinese Communist Party Central Committee (Ed.), Xin shiqi jingji tizhi gaige zhongyao wenxian xuanbian [A selection of important documents for economic structural reform in the new period] (pp. 1468-1486).

Beijing: Central Document Publisher.

Victor Shih is currently assistant professor of political science at Northwestern University. He has a book manuscript exploring the linkage between elite politics and monetary and banking policies in China. He currently researches on how China’s authoritarian political structure affects fiscal policies.



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