TY - JOUR
T1 - From scorned to loved? The political economy of the development of the stock market in China
AU - WONG, Man Lai, Sonia
AU - YANG, Yong
PY - 2009/1/1
Y1 - 2009/1/1
N2 - 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.
AB - 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.
UR - http://commons.ln.edu.hk/sw_master/2115
UR - http://www.scopus.com/inward/record.url?scp=77958137421&partnerID=8YFLogxK
U2 - 10.1080/12265080903391826
DO - 10.1080/12265080903391826
M3 - Journal Article (refereed)
SN - 1226-508X
VL - 38
SP - 409
EP - 429
JO - Global Economic Review
JF - Global Economic Review
IS - 4
ER -