NBER Working Papers and Publications
|November 2012||The Governance of China's Finance|
in Capitalizing China, Joseph Fan and Randall Morck, editors
This chapter examines the governance of China's financial system, which, it shows, cannot be adequately explained using conventional paradigms that rely on ownership and legal or regulatory controls alone. Instead, China's governance regime relies heavily on human resource management, which uses control rights over the career path of top-level financial cadres.