Financial liberalization is typically associated with bringing benefits to emerging economies—cutting red tape, boosting growth, expanding trade, and creating jobs and opportunity. Is it just what China needs as the country’s leaders grapple with how to guide it to the next level?

Or would it bring with it added risks to China’s economy? And could those risks trigger a crisis?

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Read the working paper

https://www.adb.org/publications/will-financial-liberalization-trigger-first-crisis-prc-lessons

About the authors

Qin Gou is an associate professor at the School of Finance, Central University of Finance and Economics.

Huang Yiping is Jin Guang chair professor of economics and deputy dean of the National School of Development and director of the Institute of Digital Finance of Peking University. Both universities are in Beijing, the People’s Republic of China.

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