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What is the relationship between financial development & economic growth in China? (pdf 105kb)

This paper documents the financial and institutional developments of China during the past two decades, when China was successfully transformed from a rigid central planning economy to a dynamic market economy following its unique path. 

The relationship between financial development and economic growth in China is empirically examined by following a panel sample covering 31 Chinese provinces during the transition period 1986-2002. 

The results suggests that the development of financial markets, institutions and instruments have been robustly associated with economic growth in China.

 

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