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Prosper or PerishCredit and Fiscal Systems in Rural China$
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Lynette H. Ong

Print publication date: 2012

Print ISBN-13: 9780801450624

Published to Cornell Scholarship Online: August 2016

DOI: 10.7591/cornell/9780801450624.001.0001

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Local Governments, Rural Credit, and Regional Development in China

Local Governments, Rural Credit, and Regional Development in China

(p.3) 1 Local Governments, Rural Credit, and Regional Development in China
Prosper or Perish

Lynette H. Ong

Cornell University Press

This book examines the bias in lending toward local government-related enterprises in rural China. It investigates why the mobilization of rural savings has contributed to successful industrial development in some locales but not in others. Focusing on rural credit cooperatives (RCCs), the official banking institutions for rural China, the book looks at the role of local governments in regional development. More specificially, it explains how a highly decentralized fiscal structure led to disparate fiscal capacity of subnational governments, which in turn contributed largely huge variations in social spending and uneven regional development. It also analyzes two critical questions at the nexus of China's politics, finance, and development: first, why RCC loans have been allocated consistently to local government enterprises and projects; second,what is the local variation in industrialization outcome from savings mobilizations.

Keywords:   bias, lending, China, rural savings, industrial development, rural credit cooperatives, banking, local governments, regional development, social spending

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