The Impact of Bank and Non-Bank Financial Institutions on Local Economic Growth in China
TILEC Discussion Paper No. 2006-009
Center Discussion Paper Series No. 2006-82
51 Pages Posted: 1 May 2006
Date Written: April 10, 2006
Abstract
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 institutions - banks and non-bank financial institutions - have a (significantly different) impact on local economic growth.Our findings indicate that only banking development shows a statistically significant and economically relevant impact on local economic growth.
Keywords: growth, financial development, Chinese provinces, banks
JEL Classification: E44, G21
Suggested Citation: Suggested Citation
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