Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.postcomstud.2004.06.005
Title: State, institution building, and emerging stock markets in China
Authors: Tan, Q. 
Keywords: Chinese stock market
Institutional building
Political economy
State and development
Issue Date: Sep-2004
Source: Tan, Q. (2004-09). State, institution building, and emerging stock markets in China. Communist and Post-Communist Studies 37 (3) : 373-394. ScholarBank@NUS Repository. https://doi.org/10.1016/j.postcomstud.2004.06.005
Abstract: This article studies the institutional creation of Chinese stock exchanges and their regulations. It argues that institution creation was largely a function of market forces, local initiatives, path-dependence, and a learning curve. What characterized this institutional transformation was a process in which the central government was first led by various market forces fueled by local political and economic initiatives, then was forced to react by legislating various administrative ordinances to suppress the chaotic and lawless market, and finally resorted to creating a centralized regulatory institution to rein in the fledging stock market. © 2004 The Regents of the University of California. Published by Elsevier Ltd. All rights reserved.
Source Title: Communist and Post-Communist Studies
URI: http://scholarbank.nus.edu.sg/handle/10635/130549
ISSN: 0967067X
DOI: 10.1016/j.postcomstud.2004.06.005
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