Regional Financial Development and Economic Growth in China: A Study of Guangdong–Hong Kong–Macao Greater Bay Area

Yuhao Luo and Bhabani Shankar Nayak ()
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Yuhao Luo: University of Glasgow
Bhabani Shankar Nayak: University for the Creative Arts

Chapter Chapter 3 in China: The Great Transition, 2023, pp 39-60 from Springer

Abstract: Abstract The construction of the Guangdong–Hong Kong–Macao Greater Bay Area has become one of China's key development strategies, and it is particularly important to explore the relationship between financial development and economic growth in this region. This chapter analyses the economic status and financial development level of the Greater Bay Area. The research shows that the economic growth in the Greater Bay Area has no significant driving effect on financial development. The improvement of the level of financial development and the reorganization of the financial system have promoted the long-term impact of economic growth in the Greater Bay Area.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-0051-0_3

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DOI: 10.1007/978-981-99-0051-0_3

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