China?s monetary stimulation boosted real GDP growth from an annualized 6.2% in the first quarter of 2009 to 11.9% in the first quarter of 2010. Amidst this phenomenal response, land auction and house prices in major cities soared. We argue that...Read more
Chinese state capitalism has been treated as essentially synonymous with state-owned enterprises (?SOEs?). But drawing a stark distinction between SOEs and privately owned enterprises (?POEs?) misperceives the reality of China?s institutional...Read more
A corporate bond market is thought to play an important role as a supplement to bankoriented financial systems in emerging markets ? functioning in effect as a ?spare tire.? Yet bond markets typically rely upon a formal institutional foundation...Read more
Prof. Curtis Milhaupt (Columbia Law School) presents his paper on "Bonded to the State: A Network Perspective on China’s Corporate Debt Market" at the 2016 GCGC Conference in Stockholm. Discussion of the paper is then presented by Prof. Li Jin (Guanghua School of Management Peking University).