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Prosper or Perish: Credit and Fiscal Systems in Rural China by Lynette H. Ong (review)

Prosper or Perish: Credit and Fiscal Systems in Rural China by Lynette H. Ong (review) Reviews 655 Lynette H. Ong. Prosper or Perish: Credit and Fiscal Systems in Rural China. Ithaca, NY: Cornell University Press, 2012. 212 pp. Hardcover $39.95, isbn 978-0-8014-5062-4. “Follow the money” is a sound maxim when searching for explanations of the vastly different outcomes of the industrialization process in rural China. In Prosper or Perish, Lynette Ong does just that and follows the complicated trail of fiscal transfers and problematic lending patterns in rural China. Through an analysis of the inner workings of the rural banking and fiscal systems, she oer ff s an explana- tion of the way rural China has developed in recent years. The book provides a compelling argument for the dangers of soft budget constraints created by the intimate linkage between the Rural Credit Cooperatives (RCCs) and the local government bureaucracy. Apart from providing an analysis of the rural banking sector, this interesting volume oer ff s valuable insights into the political economy of rural China. The scope of the book is much wider than suggested by the title, which could lead potential readers to assume that the book concentrates on the banking sector in China’s villages. In reality, the book covers a much wider perspective and uses http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png China Review International University of Hawai'I Press

Prosper or Perish: Credit and Fiscal Systems in Rural China by Lynette H. Ong (review)

China Review International , Volume 19 (4) – May 29, 2015

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Publisher
University of Hawai'I Press
Copyright
Copyright © University of Hawai'i Press.
ISSN
1527-9367

Abstract

Reviews 655 Lynette H. Ong. Prosper or Perish: Credit and Fiscal Systems in Rural China. Ithaca, NY: Cornell University Press, 2012. 212 pp. Hardcover $39.95, isbn 978-0-8014-5062-4. “Follow the money” is a sound maxim when searching for explanations of the vastly different outcomes of the industrialization process in rural China. In Prosper or Perish, Lynette Ong does just that and follows the complicated trail of fiscal transfers and problematic lending patterns in rural China. Through an analysis of the inner workings of the rural banking and fiscal systems, she oer ff s an explana- tion of the way rural China has developed in recent years. The book provides a compelling argument for the dangers of soft budget constraints created by the intimate linkage between the Rural Credit Cooperatives (RCCs) and the local government bureaucracy. Apart from providing an analysis of the rural banking sector, this interesting volume oer ff s valuable insights into the political economy of rural China. The scope of the book is much wider than suggested by the title, which could lead potential readers to assume that the book concentrates on the banking sector in China’s villages. In reality, the book covers a much wider perspective and uses

Journal

China Review InternationalUniversity of Hawai'I Press

Published: May 29, 2015

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