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| Tekijä: | Wang, Yaosheng |
| Otsikko: | Asian financial crisis and Asian enterprises' financing system (original in Chinese) |
| Lehti: | Economic Science (c)
1998 : 2, p.25-31 |
| Asiasana: | FINANCING FINANCIAL POLICY CORPORATE FINANCE ASIA |
| Kieli: | chn |
| Tiivistelmä: | The formation of Asian financial crisis mainly lies in the inherent drawbacks in the economic and financial systems including the financing system of enterprises besides the financial speculation and financial market activities as inducements. The government-led and relationship-type financing system of enterprises leads to the soft restraint in two aspects-bank and enterprises. The guarantee given both by the government to banks and by banks to enterprises makes the development of banks and enterprises based on the accumulation of debt and credit. Once such an accumulation is above the critical point, a large scale of financial turmoil and the bank ruptcy of enterprises and banks, will be caused. So is the Asian financial crisis. |
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