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An Empirical Study of the Yangtze River Delta Banking Structure and Economic Growth

Author: LinZuo
Tutor: LiWeiSen
School: Fudan University
Course: Finance
Keywords: Banking structure concentration of credit economic growth small and medium banks
CLC: F127;F224
Type: Master's thesis
Year: 2011
Downloads: 109
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Abstract

In recent decades, some scholars have explored the issues of relationships between financial development and economic growth. There are many theories about Financial structure, Financial deeping and Financial repression. The analysis of different aspects of the relationship between financial and economic has laid the theoretical foundation for future research. Financial systems the as a function of financial intermediation, play some very important roles in the modern economy.China’s financial market is still relatively underdeveloped and the bank-based financial system is still dominated in the current financial structure today. There are still some differences in disequilibrium among regional economic development, market transaction and banking system. Therefore, whether or not the local banking structure can fit the economic structure, directly affects the normal functioning of bank intermdiation, thus has some some effect on the local economy.The Yangtze River Delta is the most developed region in China with excellent history, geography. By using the Granger causality test and the empirical data from 1985-2008, this paper studies whether local banking market competition to play some roles in local economic growth in the provinces of Shanghai, Jiangsu, Zhejiang.We reach the following conclusions:in the three provinces, the banking structure on economic growth, a significant negative correlation, indicating that the decline in bank concentration, namely, the four major state-owned commercial banks, the market share decline, the banking market from the monopoly market to competitive market, broaden the sources of funds in the market. Granger causality of the provincial test results obtained the following results:the decline in concentration of provincial loans is one way facilitating local economic growth. In addition to the four major state-owned commercial banks, increasing in the market share of small banks plays an important role affecting the economic growth in each province.This paper also studies effects of changes of industrial output of non-state-owned economy, state-owned enterprises on the local economy. Based on the in-deep analysis we give some policy suggestions for making of "the Twelfth Five-Year-Plans" as follows:for Shanghai it is to revitalize the state-owned assets and to achieve goal of restructuring the companies and finally listed in Shanghai security market; in Jiangsu, it is to improve the quality of FDI, encouraging the further development of private economy; In Zhejiang it is to further encourage the growth of private economy and local financial innovation, expand private financial channels.Finally, this empirical analysis offers the following policy recommendations:to further explore comparative advantage, to encourage private capital into the banking sector, to develop small and medium banks with "soft information" advantage to address the financing of SMEs; to speed up the process of regional economic integration by take advantage of the opportunities of development and construction of Shanghai international financial center, to promote financial cooperation among financial institutions in Yangtze River Delta, and finally to achieve the goal of faster and better economic growth.

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CLC: > Economic > Economic planning and management > Economic calculation, economic and mathematical methods > Economic and mathematical methods
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