Chicken or egg: financial development and economic growth in China, 1992-2004

Xuejun Fan, Jan Jacobs and Robert Lensink

No 200509, CCSO Working Papers from University of Groningen, CCSO Centre for Economic Research

Abstract: This paper contributes to the empirical finance-growth literature by examining the relationship between financial depth, banking sector development, stock market development and economic growth in China. After an extensive survey on recent financial reforms in China, we apply Granger (non-)causality tests for non-stationary variables to examine long-run and short-run causality between economic growth and financial development. We find positive relationships between financial depth, banking sector development and growth. However, stock market development does not seem to have a positive effect on long-run economic growth.

Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://irs.ub.rug.nl/ppn/292133391 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://irs.ub.rug.nl/ppn/292133391 [302 Found]--> https://irs.ub.rug.nl/ppn/292133391 [302 Found]--> https://www.rug.nl/research/portal/publications/pub(2642e81d-d77b-4cbc-a972-8057be8c4e07).html [301 Moved Permanently]--> https://research.rug.nl/en/publications/pub(2642e81d-d77b-4cbc-a972-8057be8c4e07).html)

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:gro:rugccs:200509

Access Statistics for this paper

More papers in CCSO Working Papers from University of Groningen, CCSO Centre for Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by Hanneke Tamling ().