in China : theory, empircal evidence and policy implications. The causality relationship was finally testified on the basis of investigating the whole financial market, in which circumstance the estimated result further confirmed that financial development is the effect rather than cause of China&apos;s economic growth. China began its current economic reform in the late 1970s. Meanwhile, since China launched its equity market in the early 1990s, selling new stocks and bonds appeared to be another significant channel for enterprises to raise investment funds. Actions (repository staff only: login required). Overall, the thesis presents enough evidence to support the argument that the financial sector development has been acting the demand- following role in economic growth process in the context of China. This study employs a consolidated dataset covering 30 provinces for 18 years to conduct the panel technique. Secondly, on aggregated level, the Granger-causality estimated result does not support the hypothesis that China&apos;s banking sector has been playing a leading role in the process of economic growth.
By reviewing previous theories and empirical studies.
This thesis investigates the influence of financial development on economic growth in China mainly by examining the banking sector and stock.
I represent that my thesis or dissertation and abstract are my original work.
2.3 Financial Development and Economic Growth at the Sub-National Level.
Between financial development and economic growth with a view.
Meanwhile, based on the introduction of five banking sector indicators, the panel estimation result indicated that China&apos;s banking sector has not statistically generated any contribution to the economic development. PhD thesis, University of Leeds. The main findings of the research are that at first China&apos;s economic growth is driven by the quickly accumulated capital stock attributed to the rapid increase of fixed assets investment while the contribution of labour input to GDP growth is statistically modest.
Meanwhile, a monthly dataset of 10 years has also been established to explore Granger-causality tests of the financial development and economic growth linkages. Thirdly, the Granger-causality estimated results concluded that economic growth is the Granger-cause of the stock market capitalisation while no causality relationship exists between stock market development and economic growth when in term of market liquidity and volatility. Since initiating its reforms, China has restructured its banking sector from the old chemische thermodynamica essay Soviet-style and monopoly banking system. Liberalisat ion thesis to suggest the desirability of sequencing in financial reforms. This Thesis is brought to you for free and open access by the Stude nt Theses. Financial Development, Human Capital, and Economic Growth. PDF This critique argues that the preponderance of theoretical reasoning and emp irical evidence suggests a positive, first-order relationship between financial. I certify that this thesis satisfies all the requirements as a thesis for the degr. Whether it spurs long-run economic growth, and if yes, do these benefits.
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