Dr Hui Feng, Senior Research Fellow and ARC Future Fellow, Griffith Asia Institute, Griffith University
China's post-2008 stimulus and credit surge marked a critical juncture for its state-directed banking system and economic growth model. The subsequent growth of the informal shadow banking sector marked a classic "informal institutional adaptation' in the shadow of hierarchy. This presentation examines the dynamics of this episode of institutional change in Chinese political economy that saw the rise of shadow banking and subsequent regulation on the part of the state.
It also discusses the wider implications over China's economic and political transition, as well as theoretical implications over our understanding of critical juncture and institutional change.
Dr Hui Feng is a Senior Research Fellow and ARC Future Fellow at the Griffith Asia Institute, Griffith University. His areas of interests include international political economy, the economic transition of the former communist countries, especially the politics of China's reform and opening. His papers appear in major international journals, such as Review of International Political Economy and Political Studies. His most recent book is The Rise of the People's Bank of China: The Politics of Institutional Change (Cambridge, Mass.: Harvard University Press, with Stephen Bell).
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