From scorned to loved? The political economy of the development of the stock market in China
Global Economic Review
This paper explains how and why the stock market, which is regarded as the embodiment of capitalism, has been allowed to develop and gain a prominent place among China's financial markets. That development has been consistent with the changing vested interests of the central government in its attempts to collect quasi-fiscal revenue from the financial sector, reflecting the stock market's growing importance as a tax-collection venue.
Copyright © 2009 Taylor & Francis
Access to external full text or publisher's version may require subscription.
Wong, S. M. L., & Yang, Y. (2009). From scorned to loved? The political economy of the development of the stock market in China. Global Economic Review, 38(4), 409-429. doi: 10.1080/12265080903391826