Banking Reform in India and China by Lawrence Saez

By Lawrence Saez

Banking Reform in India and China seeks to discover the ways that banking reform is conditioned through a number of institutional mechanisms. To discover those dynamics, Saez attracts basically from analytical instruments built in smooth video game concept and institutional economics. He offers a multidimensional research that covers microeconomic, macroeconomic and institutional points of those nations banking platforms. It ties jointly 3 issues of company governance, monetary deregulation and primary financial institution independence to banking reform. those distinct techniques make this a tremendous contribution to the literature on comparative banking reform in transitional economies.

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Given the tight connection between China’s public banking sector and SOEs, reforms in both sectors is moving slowly and on an experimental basis. As will be discussed in greater detail in subsequent chapters, the construction and subsequent implementation of legislation dealing with the banking or the financial sector is highly centralized. The policy reforms are suggested by China’s central bank and the Ministry of Finance and implemented by executive decisions of the State Council or by approval by the Standing Committee of the National People’s Congress upon recommendation of the State Council.

In addition to the SBI group, the 19 nationalized banks form a second tier of public sector banks. Excluding the SBI, the four largest public sector banks include the Canara Bank, the Bank of India, the Bank of Baroda, and the Punjab National Bank. The 27 public sector banks account for 80 percent of public banking assets and 90 percent of bank branches of all scheduled commercial banks in India. However, the differential between the SBI and other public sector banks is substantial. 1 shows, the SBI overshadows the four largest public sector banks both in terms of the number of employees and its total assets and net profits.

This strategy, though, would be catastrophic if there is a dramatic decline of household savings in China’s state-owned commercial banks. Similar to Wen Jiabao, Jiang Zemin’s successor, Hu Jintao, appears to conform to the technocratic, pragmatic mold of the liberal reform wing of the CCP leadership. Having served as the vice-chairman of CCP’s central military commission and national central military commission, Hu has built a career in sensitive posts, most notably in Tibet. Given the sensitive nature of SOE reform in China, it is highly likely that either Wen or Hu will probably steer clear of measures that could foment social unrest.

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