Dual circulation development model and credit growth

Lili Zhang, Dexiang Yang and Yunfei Guo

Finance Research Letters, 2023, vol. 55, issue PA

Abstract: This paper empirically examines the impact of the economic dual circulation structure (DCS) on credit growth for the first time, thus expanding the existing literature on economic structure and credit growth. Using China's provincial data from 1995 to 2021, findings indicate that DCS significantly reduces credit growth, in areas with high ratio of value-added of service-to-manufacturing or with high technological innovation level, this negative effect become more significant. Additionally, fixed investment is one mechanism of this effect. our research is helpful for understanding China's sustainable economic growth and credit growth.

Keywords: Economic structure; Credit growth; Economic dual circulation; Domestic and foreign demand (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:55:y:2023:i:pa:s1544612323002453

DOI: 10.1016/j.frl.2023.103873

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