Series: IMF Working Papers
Author(s): Diego Anzoategui , Mali Chivakul , and Wojciech Maliszewski
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 24 December 2015
Keywords: Financial distortions, interest rate liberalization, implicit government guarantees, interest, guarantees, deposit, implicit guarantees, deposits, General, Asia including Middle East
Widespread implicit guarantees and interest ceilings were major distortions in China's financial system, contributing to a misallocation of resources. We analyze the impact of removing such frictions in a general e...