A Contribution to the Empirics of Finance-growth Nexus in China: A Complex System Perspective

Jean-Claude Maswana

Global Economic Review, 2009, vol. 38, issue 1, pages 29-47

Abstract: The paper empirically examines the causal interactions between Chinese financial development and economic growth using the perspective of complex systems as a metaphor in an attempt to provide a better understanding of the co-evolution of China's real and financial sectors. Using Hsiao's version of the Granger causality tests, the empirical results support a complex set of bidirectional causality between the financial development proxies and economic growth variables. Despite numerous alleged financial intermediation's inefficiencies, bidirectional causality would suggest a coherent and effective finance-growth ecosystem.

Keywords: Financial development; economic growth; financial intermediation; China; granger causality; ecosystems; complex systems (search for similar items in EconPapers)
Date: 2009

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Persistent link: http://EconPapers.repec.org/RePEc:taf:glecrv:v:38:y:2009:i:1:p:29-47

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