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Study on the Measurement of China’s Financial Intermediation Ratio in Terms of Stock: 1992–2006

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  • Zhanyu Ying

    (School of Finance, Central University of Finance and Economics, Beijing 100081, China)

Abstract

In terms of China’s financial intermediation ratio (FIMR) in stock, we make a thorough empirical study on the change of the ratios during 1992–2006. We find that: The monopoly position of bank credit in the financing channel of non-financial sector is weakened, but bank credit is still the most important financing channel for non-financial sector. There is a structure change in the financing channel of government sector and its FIMR is increasing. Though the scale of non-banking financial institutions underwent rapid development during 1992–2006, their role in social financing cannot be evenly matched with banking system. It is the change of various economy behaviors that induce the changes of FIMR in China.

Suggested Citation

  • Zhanyu Ying, 2010. "Study on the Measurement of China’s Financial Intermediation Ratio in Terms of Stock: 1992–2006," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 5(3), pages 430-444, September.
    • Handle: RePEc:fec:journl:v:5:y:2010:i:3:p:430-444
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    File URL: http://journal.hep.com.cn/fec/EN/10.1007/s11459-010-0106-0
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    More about this item

    Keywords

    financial intermediation ratio; stock index; financial structure;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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