A Contribution to the Empirics of Finance-growth Nexus in China: A Complex System Perspective
AbstractThe paper empirically examines the causal interactions between Chinese financial development and economic growth using the perspective of complex systems as a metaphor in an attempt to provide a better understanding of the co-evolution of China's real and financial sectors. Using Hsiao's version of the Granger causality tests, the empirical results support a complex set of bidirectional causality between the financial development proxies and economic growth variables. Despite numerous alleged financial intermediation's inefficiencies, bidirectional causality would suggest a coherent and effective finance-growth ecosystem.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Global Economic Review.
Volume (Year): 38 (2009)
Issue (Month): 1 ()
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