China and India:

Learning from Each Other
Reforms and Policies for Sustained Growth

Foreword
Governor Zhou

Preface

Acknowledgements

Part I. Financial Sector Reforms: Banking

1. Banking Sector Reform in India
Nachiket Mor, R. Chandrasekar, and Diviya Wahi

2. Reforming China's Banking System: How Much Can Foreign Strategic Investment Help?
Nicholas Hope and Fred Hu

3. The Banking System Structure in China and India
Luo Ping

Part II. Financial Sector Reforms: Securities Markets

4. Development of the Securities Market in India
G.N. Bajpai

5. Development of Securities Markets: The Indian Experience
Narendra Jadhav

6. Accelerating the External and Internal Opening Up of China's Securities Industry
Xinghai Fang, Ti Liu, and Donghui Shi

Part III. Financial Integration

7. Domestic Financial Liberalization and International Financial Integration: An Indian Perspective
Suman Bery and Kanhaiya Singh

8. Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China
Eswar Prasad, Thomas Rumbaugh, and Qing Wang

Part IV. Other Policies for Sustaining Growth

9. Some Apparent Puzzles for Contemporary Monetary Policy
Rakesh Mohan

10. Fiscal Policy in China
Steven Dunaway and Annalisa Fedelino

11. Labor Mobility in China and India: The Role of Hukou, Caste, and Community
Arvinder Singh

Part V. Indo-China Economic Cooperation

12. Indian Economic Development and India-China Cooperation
Nalin Surie

13. India-China Economic Cooperation
Arvind Virmani