This paper analyses the relationship between stock prices and the Chinese macro economy measured by the level of GDP. There are many possible channels of influence between these two variables, channels which may operate in either direction. There are also many theories relevant to these...

Most empirical analysis of the finance-growth nexus has used measures of financial development such as the ratio of monetary or financial assets to GDP to measure financial development. We argue that from a policy perspective measures of financial liberalisation or reform are of greater interest...