Financial Deepening, Venture Capital and Economic Growth in China
- DOI
- 10.2991/febm-16.2016.34How to use a DOI?
- Keywords
- financial deepening; venture capital; economic growth; banking system; nonbank financial markets
- Abstract
We construct panel data sets for 31 provinces in China, covering the period 2001~2015, and to estimate empirical equations to investigate the impact of financial deepening on local economic growth. The results underline the important role played by different financial sectors in promoting economic development. A robust finding is that banking system, appear to be statistically and quantitatively more significant than nonbank financial markets and venture capital investment. This is consistent with the fact that banking system is the first choice as financial service in China. We also conclude that well developed venture capital industry accelerates the pace of innovative economic development in China.
- Copyright
- © 2016, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Lifeng Tu AU - Guiming Qiao PY - 2016/11 DA - 2016/11 TI - Financial Deepening, Venture Capital and Economic Growth in China BT - Proceedings of the First International Conference Economic and Business Management 2016 PB - Atlantis Press SP - 216 EP - 221 SN - 2352-5428 UR - https://doi.org/10.2991/febm-16.2016.34 DO - 10.2991/febm-16.2016.34 ID - Tu2016/11 ER -