C O N T E N T S
List of Acronyms vii
Acknowledgments ix
Introduction 1
Charles W. Calomiris
1. China’s Financial Markets: An Overview 23
Lee Branstetter
Comment: Xiaobo Lü 79
2. China’s Banking Sector and Economic Growth 86
Loren Brandt and Xiaodong Zhu
Comment: Michael DeStefano 137
3. Understanding the Structure of Cross- Border
Capital Flows: The Case of China 144
Eswar Prasad and Shang- Jin Wei
Comment: Daniel H. Rosen 193
4. Financial Openness and the Chinese Growth Experience 202
Geert Bekaert, Campbell R. Harvey, and
Christian Lundblad
Comment: Mary Wadsworth Darby 281
5. The Effects of Stock Market Listing on the
Financial Per for mance of Chinese Firms 290
Fred Hu
Comment: Ailsa Röell 307
6. China’s Exchange Rate Regime: The Long and Short of It 314
Barry Eichengreen
Comment: Jialin Yu 343