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Monetary policy shocks and peer-to-peer lending in China
Funke, Michael; Li, Xiang; Tsang, Andrew - 2019
This paper studies monetary policy transmission in China's peer-to-peer lending market. Using spectral measures of … causality, we explore the impacts of Chinese monetary policy shocks on China's P2P market interest rates and lending amounts …
Persistent link: https://www.econbiz.de/10012161128
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The financial deepening-productivity nexus in China : 1987 - 2001
Zhang, Jun (contributor); Wan, Guanghua (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003429960
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Growth-Financial Intermediation Nexus in China
Aziz, Jahangir - 2002
This paper studies the relationship between economic growth and financial development in China during the post-1978 … find that while a positive correlation between growth and financial intermediation exists in China, the association is more … apparent than real. The nonstate sector, which contributed most to China''s remarkable growth during this period, did not use …
Persistent link: https://www.econbiz.de/10014401495
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New financial intermediary development indicators for developing countries
Asongu, Simplice A. - 2011
Financial development indicators are often applied to countries/regions without taking into account specific financial development realities. Financial depth in the perspective of monetary base is not equal to liquid liabilities in every development context. This paper introduces complementary...
Persistent link: https://www.econbiz.de/10011410523
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The cost of capital of the financial sector
Adrian, Tobias; Friedman, Evan; Muir, Tyler - 2015
Standard factor pricing models do not capture well the common time-series or cross-sectional variation in average returns of financial stocks. We propose a five-factor asset pricing model that complements the standard Fama and French (1993) three-factor model with a financial sector ROE factor...
Persistent link: https://www.econbiz.de/10011410520
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The financial development and economic growth nexus for Turkey
Halicioglu, Ferda - 2008
This study investigates the validity of the demand-pulling and the supply-leading hypotheses using annual data from 1968 to 2005. The bounds testing approach to cointegration is conducted to establish the existence of a long-run relationship between financial development and economic growth. An...
Persistent link: https://www.econbiz.de/10011523134
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Payment system innovations and financial intermediation : the case of Indonesia
Lubis, Alexander; Alexiou, Constantinos; Nellis, Joseph G. - 2019
This paper explores the relationship between innovations in payment systems and financial intermediation. By focusing on excess reserves and the currency demand, we provide evidence on the extant transmission mechanism. In this direction, we applied the generalized method of moments (GMM) and...
Persistent link: https://www.econbiz.de/10012037819
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On the instability of banking and other financial intermediation
Gu, Chao; Monnet, Cyril; Nosal, Ed; Wright, Randall D. - 2019
Are financial intermediaries inherently unstable? If so, why? What does this suggest about government intervention? To address these issues we analyze whether model economies with financial intermediation are particularly prone to multiple, cyclic, or stochastic equilibria. Four formalizations...
Persistent link: https://www.econbiz.de/10012018898
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On the instability of banking and other financial intermediation
Gu, Chao; Monnet, Cyril; Nosal, Ed; Wright, Randall D. - 2019
Are financial intermediaries inherently unstable? If so, why? What does this suggest about government intervention? To address these issues we analyze whether model economies with financial intermediation are particularly prone to multiple, cyclic, or stochastic equilibria. Four formalizations...
Persistent link: https://www.econbiz.de/10012023696
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On the instability of banking and financial intermediation
Gu, Chao; Monnet, Cyril; Nosal, Ed; Wright, Randall D. - 2019
Persistent link: https://www.econbiz.de/10012001220