The impact of banks and non-bank financial institutions on local economic growth in China
Cheng, Xiaogiang; Degryse, Hans (31.12.2007)
JulkaisusarjaBOFIT Discussion Papers
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201408072074
This paper provides evidence on the relationship between finance and high growth in China. Employing data for 27 Chinese provinces over the period 1995-2003, we assess the impact of banks and non-bank financial institutions on local economic growth. We argue that banks have had a larger impact than non-banks on local economic growth as they benefited earlier and more profoundly from China's financial reforms than their non-bank counterparts. Key Words: growth, financial development, Chinese provinces, banks JEL-codes: E44, G21
Published in: Journal of Financial Services Research, Volume 37, Issue 2-3, June 2010, Pages 179-199.