Chinese Shadow Banking: The Case of Trust Funds

被引：7
|
作者：
Liu, Kerry [1 ]
机构：
[1] Univ Sydney, China Studies Ctr, Sydney, NSW, Australia
来源：
JOURNAL OF ECONOMIC ISSUES | 2019年 / 53卷 / 04期
关键词：
shadow banking; trust fund; volatility; interest rate pass-through; People's Bank of China (PBC);
D O I：
10.1080/00213624.2019.1668338
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study provides an updated analysis of Chinese trust funds-a specialized and important type of shadow banking. This study is the first to estimate the contribution of Chinese trust funds to economic growth, and also the first to examine the association between trust funds and the volatility of Chinese stock markets. It makes a novel contribution in showing that. Chinese trust loans play a negative role in interest rate pass-through from the policy rate to the lending rates of commercial banks.
引用
收藏
页码：1070 / 1087
页数：18
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