TY - BOOK ID - 84783131 TI - Financial Distortions in China : A General Equilibrium Approach AU - Anzoategui, Diego. AU - Chivakul, Mali. AU - Maliszewski, Wojciech. PY - 2015 SN - 1513589091 1513503898 1513582798 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Money and Monetary Policy KW - Production and Operations Management KW - General Equilibrium and Disequilibrium: General KW - Interest Rates: Determination, Term Structure, and Effects KW - Economic History: Macroeconomics KW - Growth and Fluctuations: Asia including Middle East KW - Financial Institutions and Services: Government Policy and Regulation KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Production KW - Cost KW - Capital and Total Factor Productivity KW - Capacity KW - Finance KW - Banking KW - Monetary economics KW - Macroeconomics KW - Deposit rates KW - Interest rate ceilings KW - Commercial banks KW - Credit KW - Financial services KW - Money KW - Financial institutions KW - Total factor productivity KW - Interest rates KW - Banks and banking KW - Industrial productivity KW - China, People's Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84783131 AB - 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 equilibrium setting. The results show that comprehensive reforms generate better outcomes than partial ones: removing the deposit rate ceiling alone increases output, but the efficiency of capital allocation does not improve. Removing implicit guarantees improves output through lower cost of capital for private companies and better resource allocation. ER -