Economics, Econometrics and Finance
4 years ago

Banking development drives local economic growth in China, non-banks fall short.

SSRN Electronic Journal
The Impact of Bank and Non-Bank Financial Institutions on Local Economic Growth in China
Xiaoqiang Cheng, Hans Degryse

Paper Summary

The study looked at how banks and non-bank financial institutions affect economic growth in China. They analyzed data from 27 provinces between 1995 and 2003. The results showed that only the development of banks had a significant impact on local economic growth.

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