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 adopts the institutional change theory of new institutional economics to analyze the evolution process of China's capital market. It uses property rights economics, information economics, contract economics, and rent-seeking theory to specifically analyze the allocation efficiency issues of China's capital market. The book is divided into seven chapters. From the perspective of institutional evolution, it explains the evolutionary path and efficiency status of China's capital market since the reform and opening-up. It classifies the evolutionary path of China's capital market, summarizes the characteristics of institutional evolution in two stages, and evaluates them. 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 examines the impact of credit behavior on the allocation efficiency of capital market resources. It explores the impact of market rent-seeking behavior under government intervention on the allocation efficiency of the capital market. It analyzes China's rent-seeking problems in the capital market and their impact on the allocation efficiency of the capital market using rent-seeking theory. It analyzes the impact of informal finance on the allocation efficiency of the capital market. It proposes policy considerations for improving the allocation efficiency of China's capital market resources.