Financial Structure, Government Intervention, and Transformation of Economic Growth Pattern
Read
DownLoad |
| Title | Financial Structure, Government Intervention, and Transformation of Economic Growth Pattern
|
| Author | Sun Jun and Yu Jinping |
| Organization | School of Economics, Nanjing University |
| Email | ericsun326@gmail.com；yujp@nju.edu.cn |
| Key Words | Financial Structure; Economic Growth Pattern; Government Intervention |
| Abstract | To speed up the transformation of China's economic growth pattern admits of no delay. China's defective financial system, characterized by its malformed structure and undue government intervention, is considered as a major cause for the intractable extensive economic growth pattern. It finds that non state-owned enterprises' limited access to bank credits greatly retards the transformation of China's economic growth pattern, and that security financing, bank monopoly and government intervention also have significant influences on economic growth pattern by affecting non state-owned enterprises' access to bank credits. This paper provides an empirical evidence about the cause of China's intractable extensive economic growth pattern from the perspective of financial structure, and about interaction mechanisms between financial structure, government intervention, and economic growth pattern. These results present important policy implications on how to proceed with financial system reform and hence on how to promote the transformation of China's economic growth pattern. |
| Serial Number | WP630 |
| Time | 2014-08-05 |
|