Yale School of Management
135 Prospect Street
New Haven, CT 06520-8200
NBER Working Papers and Publications
|November 2012||Financial Strategies for Nation Building|
in Capitalizing China, Joseph Fan and Randall Morck, editors
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.