Prosper or Perish

Credit and Fiscal Systems in Rural China

Business & Finance, Finance & Investing, Banks & Banking, Nonfiction, Social & Cultural Studies, Political Science, International
Cover of the book Prosper or Perish by Lynette H. Ong, Cornell University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Lynette H. Ong ISBN: 9780801465512
Publisher: Cornell University Press Publication: December 15, 2009
Imprint: Cornell University Press Language: English
Author: Lynette H. Ong
ISBN: 9780801465512
Publisher: Cornell University Press
Publication: December 15, 2009
Imprint: Cornell University Press
Language: English

The official banking institutions for rural China are Rural Credit Cooperatives (RCCs). Although these co-ops are mandated to support agricultural development among farm households, since 1980 half of RCC loans have gone to small and medium-sized industrial enterprises located in, and managed by, townships and villages. These township and village enterprises have experienced highly uneven levels of success, and by the end of the 1990s, half of all RCC loans were in or close to default, forcing China's central bank to bail out RCCs. In Prosper or Perish, Lynette H. Ong examines the bias in RCC lending patterns, focusing on why the mobilization of rural savings has contributed to successful industrial development in some locales but not in others.

Interweaving insightful and theoretically informed discussions of rural credit, development, governance, and bank bailouts, Ong identifies various sources for China's uneven development. In the highly decentralized fiscal environment of the People's Republic, successful industrialization has significant implications for rural governance. Local governments depend on revenue from industrial output to provide public goods and services; unsuccessful enterprises starve local governments of revenue and result in radical cutbacks in services. High peasant burdens, land takings without adequate compensation by local governments, and other poor governance practices tend to be associated with unsuccessful industrialization. In light of the recent liberalization of the rural credit sector in China, Prosper or Perish makes a significant contribution to debates within political science, economic development, and international banking.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The official banking institutions for rural China are Rural Credit Cooperatives (RCCs). Although these co-ops are mandated to support agricultural development among farm households, since 1980 half of RCC loans have gone to small and medium-sized industrial enterprises located in, and managed by, townships and villages. These township and village enterprises have experienced highly uneven levels of success, and by the end of the 1990s, half of all RCC loans were in or close to default, forcing China's central bank to bail out RCCs. In Prosper or Perish, Lynette H. Ong examines the bias in RCC lending patterns, focusing on why the mobilization of rural savings has contributed to successful industrial development in some locales but not in others.

Interweaving insightful and theoretically informed discussions of rural credit, development, governance, and bank bailouts, Ong identifies various sources for China's uneven development. In the highly decentralized fiscal environment of the People's Republic, successful industrialization has significant implications for rural governance. Local governments depend on revenue from industrial output to provide public goods and services; unsuccessful enterprises starve local governments of revenue and result in radical cutbacks in services. High peasant burdens, land takings without adequate compensation by local governments, and other poor governance practices tend to be associated with unsuccessful industrialization. In light of the recent liberalization of the rural credit sector in China, Prosper or Perish makes a significant contribution to debates within political science, economic development, and international banking.

More books from Cornell University Press

Cover of the book The Agenda Mover by Lynette H. Ong
Cover of the book Why American Elections Are Flawed (And How to Fix Them) by Lynette H. Ong
Cover of the book The Greengrocer and His TV by Lynette H. Ong
Cover of the book Shopping for Change by Lynette H. Ong
Cover of the book Making the Unipolar Moment by Lynette H. Ong
Cover of the book Proletarian Peasants by Lynette H. Ong
Cover of the book Mixed by Lynette H. Ong
Cover of the book A History of Medieval Spain by Lynette H. Ong
Cover of the book Her Father’s Daughter by Lynette H. Ong
Cover of the book Architects of Occupation by Lynette H. Ong
Cover of the book On Greek Religion by Lynette H. Ong
Cover of the book Dagger John by Lynette H. Ong
Cover of the book The Electrification of Russia, 1880–1926 by Lynette H. Ong
Cover of the book The Enlightenment in Practice by Lynette H. Ong
Cover of the book The Emergent Self by Lynette H. Ong
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy