EconPapers    
Economics at your fingertips  
 

The Promoting Effect of Financial Development on Economic Growth: Evidence from China

Xianming Fang and Yu Jiang

Emerging Markets Finance and Trade, 2014, vol. 50, issue 1S, 34-50

Abstract: We study the promoting effects of financial development on economic growth in China. We investigate the effects of developments in the banking, securities, and insurance sectors on the outputs of China's primary, secondary, and tertiary industries. Since China's provincial economic growth shows significant spatial dependence, we construct cross-sectional spatial regression models to study effects year by year, and panel spatial regression models to study overall effects. Empirical results show that the banking and insurance sectors provide significant promoting effects on economic growth; the promoting effect of the securities sector is uncertain.

Keywords: economic growth; financial development; promoting effect; spatial regression model; three major industries (primary secondary and tertiary) (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link)
http://mesharpe.metapress.com/link.asp?target=contribution&id=Q2N00803440506G2 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:50:y:2014:i:1s:p:34-50

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MREE20

Access Statistics for this article

More articles in Emerging Markets Finance and Trade from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2018-03-28
Handle: RePEc:mes:emfitr:v:50:y:2014:i:1s:p:34-50