Financial-growth Nexus in China - Ren Jia
China began its current economic reform in the late 1970s. Since initiating its
reforms, China has restructured its banking sector while launched equity
market in early 1990s. China has been experiencing a rapid growth at an
average rate over 8 percent per annum during the last two decades. Does the
development of financial intermediaries contribute to the economic growth
in China? This study examines how financial intermediaries in China influence
the real sector growth. A particular focus is mainly set up on the direction of
causality between banking sector and/or stock market and economic growth.
The analysis should help to answer the questions: - Does each economic region
in China adopt the same growth pattern? - Does the development of
banking sector lead to the real sector growth? - Is the development of banking
sector a product of economic growth? - Does the same direction of
financial-growth causality apply to the entire country? - Does the development
of stock market lead to the economic growth? What kind of role has
the stock market been performing in China's economic growth? The book is
addressed to economic analysts and researchers who are interested in
studying the financial-growth nexus in the context of China in a statistical
manner.
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