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What might interest rate liberalization do to intermediation and the cost of capital in China? China’s most binding interest rate control is a ceiling on the deposit rate, although lending rates are also regulated.
- China’s Monetary Policy and Interest Rate Liberalization ... - IMF
The paper investigates the stability of the money demand...
- China’s Monetary Policy and Interest Rate Liberalization ... - IMF
The paper investigates the stability of the money demand function (MDF) in light of progress in financial sector reforms that, for example, have resulted in significant financial innovation (so-called shadow banking) and more liberalized interest rates.
1 Αυγ 2009 · Through case studies and model-based simulations, we find that liberalization will likely result in higher interest rates, discourage marginal investment, improve the effectiveness of intermediation and monetary transmission, and enhance the financial access of underserved sectors.
11 Ιαν 2023 · We find that interest rate liberalization exerts a negative effect on the leverage of firms. Specifically, firms experience a reduction in total leverage during the liberalization period, and firms’ short-term leverage declines more relative to long-term leverage.
We argue in this paper that interest rate liberalization may not improve aggregate productivity and welfare in China unless other distortions in the economy can be mitigated or eliminated.
1 Μαΐ 2021 · This study examines the interest rate pass-through (IRPT) mechanism in China after the interest rate liberalization by using the nonlinear ARDL (NARDL) model proposed by Shin et al. (2014).
22 Σεπ 2022 · The interest rate liberalization (IRL) policy reform in China intends to improve performance of financial institutions. However, the actual effect of the reform is still unclear since China accelerated the reform of interest rate liberalization in 2012.
