Financial Strategies for Nation Building
Chapter in NBER book Capitalizing China (2013), Joseph P. H. Fan and Randall Morck, editors (p. 313 - 333)
This chapter examines China's financial strategies, drawing upon recent and historical experiences, as well as the experience of other countries. The investigation includes the debt-financed growth strategy of modern-day China; financing in the Imperial age; the impact of war reparations from the Sino-Japanese naval war of 1895; levying taxes to solve fiscal crises; policies for alleviating a fiscal crisis; and prospects for China's debt-financed growth.
This paper was revised on May 30, 2014Comment, Jiahua Che
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