Banking reform in India and China / by Lawrence Saez.

Includes bibliographical references (pages [123]-137) and index.

Ch. 1. Introduction -- Ch. 2. Banking in China: The Institutional Framework -- Ch. 3. Banking in India: The Institutional Framework -- Ch. 4. The Political Economy of Corporate Governance -- Ch. 5. Repression and Reform of the Financial Systems in India and China -- Ch. 6. Central Bank Independence: A Comparative Perspective -- Ch. 7. Repairing Heaven?

"China and India were largely unaffected by the contagion effects of the 1997 East Asian crisis, although it did prompt the Chinese and Indian governments to start a process of banking reform in order to prevent a banking crisis from taking place. This reform process has been hindered by the fact that the banking system in each country remains under a substantial level of state ownership. Banking Reform in India and China is a critical analysis of the efforts these two countries have taken and where that reform currently stands, providing a detailed account of the existing institutional framework of India and China's financial and banking systems. Lawrence Saez especially emphasizes the role that foreign banks and newly-created private banks can play in providing adequate competition to the state-owned banking system. Citing fundamental institutional weakness in corporate governance, state-owned banking rehabilitation, and central bank independence, Saez argues that the inability by China and India to solve these structural problems could lead to a devastating banking crisis."--BOOK JACKET.