Back-Alley Banking by Kellee S. Tsai
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Back-Alley Banking
By Kellee S. Tsai

Back-Alley Banking

Private Entrepreneurs in China

By (author) See other recent books by Kellee S. Tsai
Format: Paperback

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Back-Alley Banking by Kellee S. Tsai

Book Description

Chinese entrepreneurs have founded more than thirty million private businesses since Beijing instituted economic reforms in the late 1970s. Most of these private ventures, however, have been denied access to official sources of credit. State banks continue to serve state-owned enterprises, yet most private financing remains illegal. How have Chinese entrepreneurs managed to fund their operations? In defiance of the national banking laws, small business owners have created a dizzying variety of informal financing mechanisms, including rotating credit associations and private banks disguised as other types of organizations. Back-Alley Banking includes lively biographical sketches of individual entrepreneurs; telling quotations from official documents, policy statements, and newspaper accounts; and interviews with a wide variety of women and men who give vivid narratives of their daily struggles, accomplishments, and hopes for future prosperity. Kellee S. Tsai's book draws upon her unparalleled fieldwork in China's world of shadow finance to challenge conventional ideas about the political economy of development. Business owners in China, she shows, have mobilized local social and political resources in innovative ways despite the absence of state-directed credit or a well-defined system of private property rights. Entrepreneurs and local officials have been able to draw on the uncertainty of formal political and economic institutions to enhance local prosperity.

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Book Details

ISBN: 9780801489174
ISBN-10: 0801489172
Format: Paperback
(235mm x 156mm x 20mm)
Pages: 336
Imprint: Cornell University Press
Publisher: Cornell University Press
Publish Date: 4-Mar-2004
Country of Publication: United States

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Books By Author Kellee S. Tsai

State Capitalism, Institutional Adaptation, and the Chinese Miracle by Kellee S. Tsai State Capitalism, Institutional Adaptation, and the Chinese Miracle, Hardback (June 2015)

This volume explores how Chinese institutions have adapted to the new challenges of 'state capitalism'.

Capitalism without Democracy by Kellee S. Tsai Capitalism without Democracy, Paperback (August 2007)

Focusing on the activities and aspirations of the private entrepreneurs who are driving China's economic growth.

» View all books by Kellee S. Tsai

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Author Biography - Kellee S. Tsai

Kellee S. Tsai is Professor of Political Science and Vice Dean for Humanities, Social Sciences, and Graduate Programs at The Johns Hopkins University.

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Recent books by Kellee S. Tsai close
State Capitalism, Institutional Adaptation, and the Chinese Miracle by Kellee S. Tsai
Capitalism without Democracy by Kellee S. Tsai
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