The Latecomer's Rise: Policy Banks and the Globalization of China's Development Finance
The Latecomer's Rise: Policy Banks and the Globalization of China's Development Finance
Assistant Professor of International Development
Cite
Abstract
This book reveals the nature and impact of a rapidly growing form of international lending: Chinese development finance. Over the past few decades, China has become the world's largest provider of bilateral development finance. Through its two national policy banks, the China Development Bank (CDB) and the Export–Import Bank of China (China Exim), it has funded infrastructure and industrial projects in numerous emerging markets and developing countries. Yet this very surge and magnitude of capital has raised questions about the characteristics of Chinese bilateral lending and its repercussions on the international order. This book pinpoints the distinctiveness of Chinese bilateral development finance, explains its origins, and analyzes its effects. The book compares Chinese policy banks with their foreign counterparts to show that the CDB and China Exim, while state-supported, are in fact also market-oriented—they are as much government organs as they are profit-driven financial agencies that serve both state and firms' interests. This approach, which emerged out of China's particular economic history, suggests that Chinese overseas lending is not merely a tool of economic statecraft that challenges Western-led economic regimes. Instead, China's responses to extant rules, norms, and practices across given issue areas have varied between contestation and convergence. The book demystifies the little-known workings of Chinese development finance to revise our conceptions of China's role in the international financial system.
-
Front Matter
-
Introduction
State Actors, Market Games
-
1
Capitalizing Development: From Tax Revenue to Bonds
-
2
Debt for Growth? The Domestic Origin of the Chinese Pathway
-
3
Globalizing Late Development: What Makes China’s Industrial Catch-Up Special?
-
4
The Latecomer’s Challenge: China and the West
-
5
What’s Next? China’s Development Finance at a Crossroads
-
Conclusion
Reassessing China’s Rise
-
End Matter
Sign in
Personal account
- Sign in with email/username & password
- Get email alerts
- Save searches
- Purchase content
- Activate your purchase/trial code
- Add your ORCID iD
Purchase
Our books are available by subscription or purchase to libraries and institutions.
Purchasing informationMonth: | Total Views: |
---|---|
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
November 2024 | 1 |
February 2025 | 1 |
March 2025 | 1 |
March 2025 | 2 |
Get help with access
Institutional access
Access to content on Oxford Academic is often provided through institutional subscriptions and purchases. If you are a member of an institution with an active account, you may be able to access content in one of the following ways:
IP based access
Typically, access is provided across an institutional network to a range of IP addresses. This authentication occurs automatically, and it is not possible to sign out of an IP authenticated account.
Sign in through your institution
Choose this option to get remote access when outside your institution. Shibboleth/Open Athens technology is used to provide single sign-on between your institution’s website and Oxford Academic.
If your institution is not listed or you cannot sign in to your institution’s website, please contact your librarian or administrator.
Sign in with a library card
Enter your library card number to sign in. If you cannot sign in, please contact your librarian.
Society Members
Society member access to a journal is achieved in one of the following ways:
Sign in through society site
Many societies offer single sign-on between the society website and Oxford Academic. If you see ‘Sign in through society site’ in the sign in pane within a journal:
If you do not have a society account or have forgotten your username or password, please contact your society.
Sign in using a personal account
Some societies use Oxford Academic personal accounts to provide access to their members. See below.
Personal account
A personal account can be used to get email alerts, save searches, purchase content, and activate subscriptions.
Some societies use Oxford Academic personal accounts to provide access to their members.
Viewing your signed in accounts
Click the account icon in the top right to:
Signed in but can't access content
Oxford Academic is home to a wide variety of products. The institutional subscription may not cover the content that you are trying to access. If you believe you should have access to that content, please contact your librarian.
Institutional account management
For librarians and administrators, your personal account also provides access to institutional account management. Here you will find options to view and activate subscriptions, manage institutional settings and access options, access usage statistics, and more.