Title: IFC’s role in China’s financial sector transformation
Abstract:Over the past thirty years, China’s financial sector has experienced a tremendous transformation, evolving from a mono-bank system into a multi-player sector with some of the world’s biggest banks. IF...Over the past thirty years, China’s financial sector has experienced a tremendous transformation, evolving from a mono-bank system into a multi-player sector with some of the world’s biggest banks. IFC, the member of the World Bank Group that promotes private sector development in developing countries, has since 1995 provided a range of services in China, including advisory, equity investments, loans, and risk management products, to support the development of the country’s financial sector. Empirical research has demonstrated a strong positive link between the functioning of the financial system and long-term economic growth. It also has shown that financial development disproportionately boosts incomes of the poor and reduces income inequality, and therefore has an impact on poverty reduction. The primary objective of this study is to systematically assess and summarize the development results of key IFC activities in supporting financial sector reforms in China over the past twenty years. Unlike an impact evaluation, a review is not an attempt to measure the attribution of IFC’s intervention. Rather, it is intended to consolidate, validate, and elaborate on a wide range of evidence recorded in project documents by hearing from clients and partners about IFC’s contributions, and thereby learn useful lessons that could guide IFCs future work in China and other countries.Read More
Publication Year: 2014
Publication Date: 2014-06-26
Language: en
Type: article
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