Intelligent finance development and shadow banking

Linggang Zeng, Yuhang He and Dan Ma

Finance Research Letters, 2025, vol. 81, issue C

Abstract: Amid financial repression, nonfinancial enterprises with access to low-cost capital use shadow banking to channel funds to underfinanced firms. While intelligent finance (IF) improves financial efficiency, its effectiveness and mechanism for combating shadow banking remain unclear. We construct a city-level IF development index using Chinese data. The sequential linear panel data estimator shows that IF significantly reduces nonfinancial firms’ shadow banking, both lending and borrowing, by reducing the nonperforming loan ratio while increasing bank credit availability.

Keywords: Intelligent finance; Shadow banking; Nonperforming loan rate; Credit availability (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:81:y:2025:i:c:s1544612325006907

DOI: 10.1016/j.frl.2025.107430

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