Joint Liability Lending and the Rise and Fall of China ’ s Township and Village Enterprises By :

@inproceedings{Park2001JointLL,
  title={Joint Liability Lending and the Rise and Fall of China ’ s Township and Village Enterprises By :},
  author={Albert Park and Minggao Shen},
  year={2001}
}
Using data from a recent survey of bank and enterprise managers and government officials in southern China, we present a new explanation for the rise and fall of collectively-owned township and village enterprises (TVEs) based on the willingness of banks to finance collective enterprise development. Until recently bank loans to TVEs exhibited the key features of joint liability lending, supported by the unique sanctioning ability of local leaders. Beginning in the mid 1990s, liquidation costs… CONTINUE READING

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