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Title: Finance-growth nexus in China from an endogenous switching perspective
Authors: Chow, WW
Fung, MK 
Leung, MK 
Keywords: Financial development
Economic growth
Switching causality
China regions
Issue Date: 2018
Publisher: Routledge, Taylor & Francis Group
Source: Journal of international trade and economic development, 2018, v. 27, no. 4, p. 443-462 How to cite?
Journal: Journal of international trade and economic development 
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.
ISSN: 0963-8199
EISSN: 1469-9559
DOI: 10.1080/09638199.2017.1389976
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