BOFIT Discussion Papers, Institute for Economies in Transition, Bank of Finland
No 22/2007:
The Impact of Banks and Non-Bank Financial Institutions on Local Economic Growth in China
Xiaoqiang Cheng ()
and Hans Degryse
Abstract: 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.
Keywords: growth; financial development; Chinese provinces; banks; (follow links to similar papers)
JEL-Codes: E44; G21; (follow links to similar papers)
49 pages, February 4, 2007
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