Hasan, Iftekhar; Wachtel, Paul; Zhou, Mingming - In: Journal of Banking & Finance 33 (2009) 1, pp. 157-170
There have been profound changes in both political and economic institutions in China over the last 20 years. Moreover, the pace of transition has led to variation across the country in the level of development. In this paper, we use panel data for the Chinese provinces to study the role of...