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Conference Paper: Does the Chinese banking system promote the growth of firms

TitleDoes the Chinese banking system promote the growth of firms
Authors
KeywordsChinese banking system development
Value added and TFP growth
Panel dataset
Issue Date2008
PublisherWorld Economy and Finance Research Programme
Citation
World Economy and Finance Research Programme Working Paper, 2008, p. 1-26 How to Cite?
AbstractUsing a large panel dataset of Chinese manufacturing enterprises during 1999-2005, which accounts for over 90% of China’s industrial output, and robust econometric procedures we show that the Chinese banking system has helped to support the growth of both firm value added and TFP. We find that access to bank loans is positively correlated with future value added and TFP growth. We also find that firms with access to bank loans tend to grow faster in regions with greater banking sector development. While the effects of bank loans on firm growth are more pronounced in the case of purely private-owned and foreign firms, they are positive and statistically significant even in the case of state-owned and collectively-owned firms. We show that excluding loss-making firms from the sample does not change the qualitative nature of our results.
Persistent Identifierhttp://hdl.handle.net/10722/63841
ISSN
SSRN

 

DC FieldValueLanguage
dc.contributor.authorDemetriades, POen_HK
dc.contributor.authorDu, Jen_HK
dc.contributor.authorGirma, Sen_HK
dc.contributor.authorXu, Cen_HK
dc.date.accessioned2010-07-13T04:33:24Z-
dc.date.available2010-07-13T04:33:24Z-
dc.date.issued2008en_HK
dc.identifier.citationWorld Economy and Finance Research Programme Working Paper, 2008, p. 1-26-
dc.identifier.issn1749-8279-
dc.identifier.urihttp://hdl.handle.net/10722/63841-
dc.description.abstractUsing a large panel dataset of Chinese manufacturing enterprises during 1999-2005, which accounts for over 90% of China’s industrial output, and robust econometric procedures we show that the Chinese banking system has helped to support the growth of both firm value added and TFP. We find that access to bank loans is positively correlated with future value added and TFP growth. We also find that firms with access to bank loans tend to grow faster in regions with greater banking sector development. While the effects of bank loans on firm growth are more pronounced in the case of purely private-owned and foreign firms, they are positive and statistically significant even in the case of state-owned and collectively-owned firms. We show that excluding loss-making firms from the sample does not change the qualitative nature of our results.-
dc.languageengen_HK
dc.publisherWorld Economy and Finance Research Programme-
dc.relation.ispartofWorld Economy and Finance Research Programme Working Paper-
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectChinese banking system development-
dc.subjectValue added and TFP growth-
dc.subjectPanel dataset-
dc.titleDoes the Chinese banking system promote the growth of firmsen_HK
dc.typeConference_Paperen_HK
dc.identifier.emailXu, C: cgxu@hku.hken_HK
dc.identifier.authorityXu, C=rp01118en_HK
dc.description.naturepublished_or_final_version-
dc.identifier.hkuros167336en_HK
dc.identifier.spage1-
dc.identifier.epage26-
dc.publisher.placeUK-
dc.identifier.ssrn1143426-

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