Evolution of China's financial system and its impact on economic development

Abstract

In this paper, I try to show and emphasise how China has adopted alternative economic policies in the transition and in the evolution of its financial system. In fact, the ‘step by step’ or ‘gradualism’ approach followed is in contrast to the fashionable idea that indiscriminately prescribes market-oriented financial system architecture to emerging and transition economies, and is, I believe, more close to the financial policies recommended by Post-Keynesians.