Prosper or perish
Subtitle: credit and fiscal systems in rural China
By: Lynette Ong
Publisher: Cornell University Press
Published: 2012
Place of publication: Ithaca
Language: eng
Number of pages: 212
ISBN-13: 9780801450624
Subjects: Central-local government relations; Cooperative Banks and banking; Rural development; Local finance; Rural credit
Description: "The official banking institutions for rural China are Rural Credit Cooperatives (RCCs). Although these co-ops are mandated to support agricultural development among farm households, since 1980 half of RCC loans have gone to small and medium-sized industrial enterprises located in, and managed by, townships and villages. These township and village enterprises have experienced highly uneven levels of success, and by the end of the 1990s, half of all RCC loans were in or close to default, forcing China's central bank to bail out RCCs. In Prosper or Perish, Lynette H. Ong examines the bias in RCC lending patterns, focusing on why the mobilization of rural savings has contributed to successful industrial development in some locales but not in others"--Publisher's Web site.
Notes: Includes bibliographical references and index.
Table of contents: title: Local governments, rural credit and regional development; title: The rural financial system and rural development in China; title: The design of China's rural credit institutions; title: The implications of cadre evaluation and fiscal system for local government behavior; title: Diverging pathways to prosperity : private sector-led and local government-led industrialization; title: Local government-led path to rural decay.