Financial Deepening, Venture Capital and Economic Growth in China

DOI

10.2991/febm-16.2016.34How to use a DOI?

Keywords

financial deepening; venture capital; economic growth; banking system; nonbank financial markets

Abstract

We construct panel data sets for 31 provinces in China, covering the period 2001~2015, and to estimate empirical equations to investigate the impact of financial deepening on local economic growth. The results underline the important role played by different financial sectors in promoting economic development. A robust finding is that banking system, appear to be statistically and quantitatively more significant than nonbank financial markets and venture capital investment. This is consistent with the fact that banking system is the first choice as financial service in China. We also conclude that well developed venture capital industry accelerates the pace of innovative economic development in China.

Copyright

© 2016, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Lifeng Tu
AU  - Guiming Qiao
PY  - 2016/11
DA  - 2016/11
TI  - Financial Deepening, Venture Capital and Economic Growth in China
BT  - Proceedings of the First International Conference Economic and Business Management 2016
PB  - Atlantis Press
SP  - 216
EP  - 221
SN  - 2352-5428
UR  - https://doi.org/10.2991/febm-16.2016.34
DO  - 10.2991/febm-16.2016.34
ID  - Tu2016/11
ER  -