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Intergovernmental Fiscal Reform, Financial Deepening, and Regional Disparity in China: A Missing Link

Author

Listed:
  • Zhang Jun

    (China Center for Economic Studies, Fudan University)

  • Yu Jin

    (Department of Economics, Nanyang Technological University)

Abstract

It becomes apparent that growing disparity in China is highly associated with regional variation of productivity, and that productivity is significantly impacted by financial deepening process. After identifying and estimating the share of bank lending to non-state sector, this paper finds a significant variation in the level of financial deepening between regions. Then this paper examines why financial development process turns out to be divergent between coastal and inland regions. Such analysis places the issue of enlarging regional imbalance in China in a context specific to the weakness of re-centralization process of intergovernmental fiscal relations in 1994.

Suggested Citation

  • Zhang Jun & Yu Jin, 2005. "Intergovernmental Fiscal Reform, Financial Deepening, and Regional Disparity in China: A Missing Link," Economic History 0511003, EconWPA.
  • Handle: RePEc:wpa:wuwpeh:0511003 Note: Type of Document - doc; pages: 23
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    References listed on IDEAS

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    1. Baldwin, Richard, 1988. "Hyteresis in Import Prices: The Beachhead Effect," American Economic Review, American Economic Association, vol. 78(4), pages 773-785, September.
    2. Avinash Dixit, 1989. "Hysteresis, Import Penetration, and Exchange Rate Pass-Through," The Quarterly Journal of Economics, Oxford University Press, vol. 104(2), pages 205-228.
    3. Roberts, Mark A. & McCausland, W. David, 1999. "Multiple international debt equilibria and irreversibility," Economic Modelling, Elsevier, vol. 16(2), pages 179-188, April.
    4. Richard Baldwin & Paul Krugman, 1989. "Persistent Trade Effects of Large Exchange Rate Shocks," The Quarterly Journal of Economics, Oxford University Press, vol. 104(4), pages 635-654.
    5. repec:ebl:ecbull:v:6:y:2005:i:24:p:1-17 is not listed on IDEAS
    6. Sergio Da Silva & Guilherme Moura & Roberto Meurer, 2005. "Travel hysteresis in the Brazilian current account," Economics Bulletin, AccessEcon, vol. 6(24), pages 1-17.
    7. McCausland, W David, 2002. "Exchange Rate Hysteresis: The Effects of Overshooting and Short-Termism," The Economic Record, The Economic Society of Australia, vol. 78(240), pages 60-67, March.
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    JEL classification:

    • O - Economic Development, Innovation, Technological Change, and Growth

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