Research on the Allocation Efficiency of China's Capital Market -- An Institutional Economics Analysis

Author: Xu Tao
Publisher:
Publish Date: 2005-01-01
Features: This book employs the institutional change theory of new institutional economics to analyze the evolution process of China's capital market. It specifically examines the allocation efficiency of China's capital market using property rights economics, information economics, contract economics, and rent-seeking theory. The book is divided into seven chapters. From the perspective of institutional evolution, it explains the path of China's capital market since the reform and opening-up and its efficiency status. The evolution path of China's capital market is categorized, and the characteristics of institutional evolution in two stages are summarized and evaluated. From the perspective of property rights theory in new institutional economics, it specifically analyzes the impact of property rights constraints on the allocation efficiency of capital market resources, with a focus on the influence of property rights on the allocation efficiency of China's capital market. It investigates the impact of credit behavior on the allocation efficiency of capital market resources. It explores rent-seeking behavior in markets under government intervention and its impact on capital market allocation efficiency. Using rent-seeking theory, it analyzes rent-seeking issues in China's capital market and their impact on capital market allocation efficiency. It examines the influence of informal finance on capital market allocation efficiency. It proposes policy considerations for improving the allocation efficiency of China's capital market resources.