Chen, Shiyi; Härdle, Wolfgang K.; Wang, Li - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2014
The development of shadow banking system in China catalyzes the expansion of banks’ off-balance-sheet activities, resulting in a distortion of China’s traditional credit expansion and underestimation of its commercial banks’ overall risk. This paper is the first to incorporate banks’...