The Impact of Bank and Non-Bank Financial Institutions on Local Economic Growth in China

被引:75
|
作者
Cheng, Xiaoqiang [2 ,3 ,4 ]
Degryse, Hans [1 ]
机构
[1] Tilburg Univ, CentER, EBC, TILEC, NL-5000 LE Tilburg, Netherlands
[2] Katholieke Univ Leuven, LICOS, Louvain, Belgium
[3] Katholieke Univ Leuven, Ctr Econ Studies, Louvain, Belgium
[4] Rensselaer Polytech Inst, Int Ctr Financial Res, Lally Sch Management, Troy, NY 12180 USA
关键词
Growth; Financial development; Chinese provinces; Banks; LAW; INTERMEDIATION; ALLOCATION; MARKETS;
D O I
10.1007/s10693-009-0077-4
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
This paper provides evidence on the relationship between finance and growth in a fast growing country, such as China. Employing data of 27 Chinese provinces over the period 1995-2003, we study whether the financial development of two different types of financial institutions - banks and non-banks - have a (significantly different) impact on local economic growth. Our findings indicate that banking development shows a statistically significant and economically more pronounced impact on local economic growth.
引用
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页码:179 / 199
页数:21
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