Financial deregulation, credit allocation across sectors, and economic growth: evidence from China
AbstractThis paper investigates whether financial deregulation causes economic growth through financial development. Financial development is measured by two channels: (1) changes in the allocation of credit across sectors, and (2) changes in savings and investment rates. We measure financial deregulation in China at the provincial level from 1981 to 1998. Our results suggest that financial reform causes economic growth in China. Further, its effect largely comes through the reallocation of credit across sectors, rather than changes in savings and investment rates.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Journal of Economic Policy Reform.
Volume (Year): 15 (2012)
Issue (Month): 4 (December)
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