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Informal Finance in China: American and Chinese Perspectives
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Informal Finance in China: American and Chinese Perspectives

Jianjun Li and Sara Hsu

Abstract

Informal finance consists of non-bank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. Informal finance has provided much-needed financing to small and medium enterprises (SMEs) in particular, in the face of a tightly constrained, overburdened formal banking system. Unable to obtain a bank loan, firms have relied upon individuals and informal organizations outside of the banking system in order to obtain financing for their ventures. Informal finance has played a critical role in China's economic boom of the last ... More

Keywords: informal finance, macroeconomy, economic growth, non-bank finance, bank, medium enterprises, underground finance, private enterprise

Bibliographic Information

Print publication date: 2009 Print ISBN-13: 9780195380644
Published to Oxford Scholarship Online: February 2010 DOI:10.1093/acprof:oso/9780195380644.001.0001

Authors

Affiliations are at time of print publication.

Jianjun Li, editor
Central University of Finance and Economics in Beijing, China

Sara Hsu, editor
Trinity University in San Antonio, Texas