Umfang:
1 Online-Ressource (37 p)
Inhalt:
The banking sector is considerably large in China, making scholars and practitioners intuitively believe that China has a bank-based financial system. However, some scholars find that China has a market-based financial system. This study tries to resolve this puzzle. Following the definitions of the World Bank, we construct China’s financial structure index and postulate that measuring stock market activity with the concept of secondary market is inappropriate. We find that when measured with total value traded, China is evidenced to have a market-based financial system. However, when measured with stock issuance amount, China is bank-based, which aligns with economic intuition
Anmerkung:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 4, 2020 erstellt
Sprache:
Englisch
DOI:
10.2139/ssrn.3798640
