The Impact of Bank and Non-Bank Financial Institutions on Local Economic Growth in China

X. Cheng, H.A. Degryse

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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.
Original languageEnglish
Place of PublicationTilburg
PublisherFinance
Number of pages52
Volume2006-82
Publication statusPublished - 2006

Publication series

NameCentER Discussion Paper
Volume2006-82

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Keywords

  • growth
  • financial development
  • Chinese provinces
  • banks

Cite this

Cheng, X., & Degryse, H. A. (2006). The Impact of Bank and Non-Bank Financial Institutions on Local Economic Growth in China. (CentER Discussion Paper; Vol. 2006-82). Finance.