Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/79770
Title: | Finance-growth nexus in China from an endogenous switching perspective | Authors: | Chow, WW Fung, MK Leung, MK |
Issue Date: | 2018 | Source: | Journal of international trade and economic development, 2018, v. 27, no. 4, p. 443-462 | Abstract: | This study examines the relationship between financial development and economic growth across Chinese provinces with switching causality. Four states are considered: bidirectional causality (state 1); one-way causality from growth to finance (state 2); one-way causality from finance to growth (state 3); and non-causality (state 4). While state 3 dominates in developed regions, states 1 and 3 occur intermittently in other regions. This implies that the demand for financial services induced by local economic growth plays a stronger role in driving financial development in under-developed regions. Consistent with prior research, bank loans negatively affect economic growth in China. | Keywords: | Financial development Economic growth Switching causality China regions |
Publisher: | Routledge, Taylor & Francis Group | Journal: | Journal of international trade and economic development | ISSN: | 0963-8199 | EISSN: | 1469-9559 | DOI: | 10.1080/09638199.2017.1389976 | Rights: | © 2017 Informa UK Limited, trading as Taylor & Francis Group This is an Accepted Manuscript of an article published by Taylor & Francis in The Journal of International Trade & Economic Development on 01 Dec 2017 (published online), available at: http://www.tandfonline.com/10.1080/09638199.2017.1389976 |
Appears in Collections: | Journal/Magazine Article |
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File | Description | Size | Format | |
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Fung_Finance-growth_Nexus_China.pdf | Pre-Published version | 967 kB | Adobe PDF | View/Open |
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