FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN CHINA
Journal Title: Topics in Economics, Business and Management (EBM) - Year 2017, Vol 1, Issue 2
Abstract
Using annual time series data for a period of 37 years spanning from 1980 to 2016, this paper investigates the relationship between financial development and economic growth at the country level in China. The ordinary least squire estimation technique was employed to establish the relationship. The study uses broad money to GDP ratio and domestic credit to the private sector as proxies for financial development. The empirical result reveals that, financial development as a whole has not contributed significantly to the growth rate of China which has been attributed largely to the high rate of none-performing loans. On the other hand, control variables such as labour, investment and trade, were found to be positive and highly statically significant in influencing growth. It was therefore concluded that the economic growth of China is highly attributed to the growth of its labour force and trade.
Authors and Affiliations
Liu Yimiao, Wu Zihao, Sesay Brima
Keywords
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- EP ID EP411240
- DOI 10.26480/wsebm.01.2017.35.37
- Views 81
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