Can digital finance development improve balanced regional investment allocations in developing countries? — The evidence from China
Author
Abstract
Suggested Citation
DOI: 10.1016/j.ememar.2023.101035
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Deng, Liuchun & Wang, Boqun, 2016. "Regional capital flows and economic regimes: Evidence from China," Economics Letters, Elsevier, vol. 141(C), pages 80-83.
- Bayoumi, Tamim A. & Rose, Andrew K., 1993. "Domestic savings and intra-national capital flows," European Economic Review, Elsevier, vol. 37(6), pages 1197-1202, August.
- Durlauf, Steven N. & Kourtellos, Andros & Minkin, Artur, 2001.
"The local Solow growth model,"
European Economic Review, Elsevier, vol. 45(4-6), pages 928-940, May.
- Durlauf,S.N. & Kourtellos,A. & Minkin,A., 2000. "The local Solow growth model," Working papers 21, Wisconsin Madison - Social Systems.
- Ma, Yong & Lin, Xingkai, 2016. "Financial development and the effectiveness of monetary policy," Journal of Banking & Finance, Elsevier, vol. 68(C), pages 1-11.
- Bajo-Rubio, Oscar, 2000. "A further generalization of the Solow growth model: the role of the public sector," Economics Letters, Elsevier, vol. 68(1), pages 79-84, July.
- Chong-En Bai & Chang-Tai Hsieh & Yingyi Qian, 2006.
"The Return to Capital in China,"
Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 37(2), pages 61-102.
- Chong-En Bai & Chang-Tai Hsieh & Yingyi Qian, 2006. "The Return to Capital in China," NBER Working Papers 12755, National Bureau of Economic Research, Inc.
- Ding, Na & Gu, Leilei & Peng, Yuchao, 2022. "Fintech, financial constraints and innovation: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 73(C).
- Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
- Louis Thiemann, 2015. "Operationalising food sovereignty through an investment lens: how agro-ecology is putting ‘big push theory’ back on the table," Third World Quarterly, Taylor & Francis Journals, vol. 36(3), pages 544-562, March.
- Zhong, Weiqiang & Jiang, Tingfeng, 2021. "Can internet finance alleviate the exclusiveness of traditional finance? evidence from Chinese P2P lending markets," Finance Research Letters, Elsevier, vol. 40(C).
- Ross Levine, 1997.
"Financial Development and Economic Growth: Views and Agenda,"
Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
- Levine, Ross, 1996. "Financial development and economic growth : views and agenda," Policy Research Working Paper Series 1678, The World Bank.
- Lu Zhang & Dirk Bezemer, 2016. "Finance and growth in China, 1995–2013: more liquidity or more development?," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 9(3), pages 613-631.
- Ji, Yu & Shi, Lina & Zhang, Shunming, 2022. "Digital finance and corporate bankruptcy risk: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
- Itay Goldstein & Wei Jiang & G Andrew Karolyi, 2019. "To FinTech and Beyond," The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1647-1661.
- Chen, Shengqi & Zhang, Hong, 2021. "Does digital finance promote manufacturing servitization: Micro evidence from China," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 856-869.
- Eckaus, R. S., 2003. "Some consequences of fiscal reliance on extrabudgetary revenues in China," China Economic Review, Elsevier, vol. 14(1), pages 72-88.
- Pierre-Richard Agénor & Peter J. Montiel, 2015. "Development Macroeconomics Fourth edition," Economics Books, Princeton University Press, edition 4, number 10494.
- Lee, Sang Seok & Luk, Paul, 2018. "The Asian Financial Crisis and international reserve accumulation: A robust control approach," Journal of Economic Dynamics and Control, Elsevier, vol. 90(C), pages 284-309.
- Feldstein, Martin & Horioka, Charles, 1980.
"Domestic Saving and International Capital Flows,"
Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
- Martin Feldstein & Charles Horioka, 1979. "Domestic Savings and International Capital Flows," NBER Working Papers 0310, National Bureau of Economic Research, Inc.
- T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
- Levine, Ross, 2002.
"Bank-Based or Market-Based Financial Systems: Which Is Better?,"
Journal of Financial Intermediation, Elsevier, vol. 11(4), pages 398-428, October.
- Ross Levine, 2002. "Bank-Based or Market-Based Financial Systems: Which is Better?," William Davidson Institute Working Papers Series 442, William Davidson Institute at the University of Michigan.
- Ross Levine, 2002. "Bank-Based or Market-Based Financial Systems: Which is Better?," NBER Working Papers 9138, National Bureau of Economic Research, Inc.
- Chakraborty, Chandana & Rawlins, Glenville, 2004. "Financial resource flows, macro policy response, and the socio-economic environment: the experience of Latin America and East Asia," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 33(4), pages 469-489, September.
- Cho, Tsui-Yueh & Chen, Yi-Shuan, 2021. "The impact of financial technology on China’s banking industry: An application of the metafrontier cost Malmquist productivity index," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
- Chan, Kenneth S. & Dang, Vinh Q.T. & Lai, Jennifer T. & Yan, Isabel K.M., 2011.
"Regional capital mobility in China: 1978–2006,"
Journal of International Money and Finance, Elsevier, vol. 30(7), pages 1506-1515.
- Yan, Isabel K. & Chan, Kenneth S. & Dang, Vinh Q.T. & Lai, Jennifer T., 2011. "Regional Capital Mobility in China: 1978-2006," MPRA Paper 35217, University Library of Munich, Germany.
- Sinn, Stefan, 1992. "Saving-Investment Correlations and Capital Mobility: On the Evidence from Annual Data," Economic Journal, Royal Economic Society, vol. 102(414), pages 1162-1170, September.
- Hwang, Sun Ho & Kim, Yun Jung, 2018. "Capital mobility in OECD countries: A multi-level factor approach to saving–investment correlations," Economic Modelling, Elsevier, vol. 69(C), pages 150-159.
- Li, Cheng, 2010. "Savings, investment, and capital mobility within China," China Economic Review, Elsevier, vol. 21(1), pages 14-23, March.
- Lai, Jennifer T. & McNelis, Paul D. & Yan, Isabel K.M., 2013. "Regional capital mobility in China: Economic reform with limited financial integration," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 493-503.
- Iwamoto, Yasushi & van Wincoop, Eric, 2000. "Do Borders Matter? Evidence from Japanese Regional Net Capital Flows," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(1), pages 241-269, February.
- Ahmed, Abdullahi D., 2016. "Integration of financial markets, financial development and growth: Is Africa different?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 42(C), pages 43-59.
- Shaikh, Aijaz A. & Glavee-Geo, Richard & Karjaluoto, Heikki, 2017. "Exploring the nexus between financial sector reforms and the emergence of digital banking culture – Evidences from a developing country," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1030-1039.
- Jiang, Kangqi & Chen, Zhongfei & Rughoo, Aarti & Zhou, Mengling, 2022. "Internet finance and corporate investment: Evidence from China," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Zhenhua Zhang & Chao Hua & Marshall S. Jiang & Jianjun Miao, 2024. "The spatial spillover effect of financial growth on high-quality development: Evidence from Yellow River Basin in China," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-17, December.
- Hongyi Wang & Yi Li & Bingyang He, 2024. "Spatial Spillover Effects of Digital Finance on Corporate ESG Performance," Sustainability, MDPI, vol. 16(16), pages 1-20, August.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Te Lai, 2015. "Regional Capital Mobility in China: An Endogenous Parameter Approach," Applied Economics and Finance, Redfame publishing, vol. 2(3), pages 63-75, August.
- Saileshsingh Gunessee & Cheng Zhang, 2022. "The economics of domestic market integration," Journal of Economic Surveys, Wiley Blackwell, vol. 36(4), pages 1069-1095, September.
- Wang, Shoukun, 2016. "China's interregional capital mobility: A spatial econometric estimation," China Economic Review, Elsevier, vol. 41(C), pages 114-128.
- Boyreau-Debray, Genevieve, 2003. "Financial intermediation and growth - Chinese style," Policy Research Working Paper Series 3027, The World Bank.
- Sylviane GUILLAUMONT JEANNENEY & PING HUA & ZHICHENG LIANG, 2006.
"Financial Development, Economic Efficiency, And Productivity Growth: Evidence From China,"
The Developing Economies, Institute of Developing Economies, vol. 44(1), pages 27-52, March.
- Zhicheng LIANG & Ping HUA & Sylviane GUILLAUMONT JEANNENEY, 2006. "Financial Development, Economic Efficiency and Productivity Growth: Evidence from China," Working Papers 200625, CERDI.
- Sylviane Guillaumont Jeanneney & Ping Hua & Zhicheng Liang, 2011. "Financial Development, Economic Efficiency and Productivity Growth: Evidence from China," Working Papers halshs-00562630, HAL.
- Kenneth Chan & Jennifer Lai & Isabel Yan, 2013. "Special Issue. Guest Editor: Zhihao Yu," Review of Development Economics, Wiley Blackwell, vol. 17(3), pages 430-446, August.
- Jérome Hericourt & Mathilde Maurel, 2006.
"A new look at the Feldstein-Horioka puzzle: a European-regional perspective,"
Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 49(2), pages 147-168.
- Jérôme Héricourt & Mathilde Maurel, 2005. "A new look at the Feldstein-Horioka puzzle: an "European-regional" perspective," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00196383, HAL.
- Jérôme Héricourt & Mathilde Maurel, 2006. "A New Look at the Feldstein-Horioka Puzzle: A “European-Regional” Perspective," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00267478, HAL.
- Jérôme Héricourt & Mathilde Maurel, 2005. "A new look at the Feldstein-Horioka puzzle: an "European-regional" perspective," Post-Print halshs-00196383, HAL.
- Jérôme Héricourt & Mathilde Maurel, 2005. "A new look at the Feldstein-Horioka puzzle: an "European-Regional" perspective," Cahiers de la Maison des Sciences Economiques j05070, Université Panthéon-Sorbonne (Paris 1).
- Jérôme Héricourt & Mathilde Maurel, 2006. "A New Look at the Feldstein-Horioka Puzzle: A “European-Regional” Perspective," Post-Print halshs-00267478, HAL.
- Giancarlo Bertocco, 2009.
"The Relationship Between Saving and Credit from a Schumpeterian Perspective,"
Journal of Economic Issues, Taylor & Francis Journals, vol. 43(3), pages 607-640.
- Bertocco Giancarlo, 2007. "The relationship between saving and credit from a Schumpeterian perspective," Economics and Quantitative Methods qf07013, Department of Economics, University of Insubria.
- Phiri, Andrew, 2019.
"The Feldstein-Horioka Puzzle and the Global Financial Crisis: Evidence from South Africa using Asymmetric Cointegration Analysis,"
Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 72(2), pages 139-170.
- Andrew Phiri, 2017. "The Feldstein-Horioka puzzle and the global financial crisis: Evidence from South Africa using asymmetric cointegation analysis," Working Papers 1701, Department of Economics, Nelson Mandela University, revised May 2017.
- Chan, Kenneth S. & Dang, Vinh Q.T. & Lai, Jennifer T. & Yan, Isabel K.M., 2011.
"Regional capital mobility in China: 1978–2006,"
Journal of International Money and Finance, Elsevier, vol. 30(7), pages 1506-1515.
- Yan, Isabel K. & Chan, Kenneth S. & Dang, Vinh Q.T. & Lai, Jennifer T., 2011. "Regional Capital Mobility in China: 1978-2006," MPRA Paper 35217, University Library of Munich, Germany.
- Phiri, Andrew, 2017. "The Feldstein-Horioka puzzle and the global recession period: Evidence from South Africa using asymmetric cointegration analysis," MPRA Paper 79096, University Library of Munich, Germany.
- Mingming Jiang, 2014. "Saving–investment Association and Regional Capital Mobility in China: A Nonparametric Panel Approach," Pacific Economic Review, Wiley Blackwell, vol. 19(2), pages 184-200, May.
- Samuel Marden, 2016. "The agricultural roots of industrial development: ‘forward linkages’ in reform era China," Working Paper Series 09116, Department of Economics, University of Sussex Business School.
- Jesús Rodríguez‐López & Diego Martínez‐López & Diego Romero‐Ávila, 2009.
"Persistence of inequalities across the Spanish regions,"
Papers in Regional Science, Wiley Blackwell, vol. 88(4), pages 841-862, November.
- Jesús Rodríguez & Diego Romero de Ávila & Diego Martínez-López, 2005. "Persistence in inequalities across the Spanish regions," Economic Working Papers at Centro de Estudios Andaluces E2005/11, Centro de Estudios Andaluces.
- Jesús Rodríguez López & Diego Martínez López & Diego Romero de Ávila Torrijos, 2006. "Persistence in inequalities across the Spanish regions," Working Papers 06.07, Universidad Pablo de Olavide, Department of Economics.
- Oyinlola, Mutiu A. & Adedeji, Abdulfatai A. & Onitekun, Olumide, 2021. "Human capital, innovation, and inclusive growth in sub-Saharan African Region," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 609-625.
- Samuel Marden, 2016. "The agricultural roots of industrial development: ‘forward linkages’ in reform era China," Working Paper Series 9116, Department of Economics, University of Sussex.
- Taofeek Olusola Ayinde & Olumuyiwa Ganiyu Yinusa & Yulia Rodionova, 2018. "Global and Regional Capital Mobilities in Sub-Saharan African Economies: Complement or Substitute?," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 68(4), pages 51-71, October-D.
- Li, Shuai & Zhan, Shuwei & Zhan, Shurui & Zhan, Minghua, 2023. "How does financial development change the effect of the bank lending channel of monetary policy in developing countries?—Evidence from China," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 502-519.
- Slavov, Slavi T., 2009. "Do common currencies facilitate the net flow of capital among countries?," The North American Journal of Economics and Finance, Elsevier, vol. 20(2), pages 124-144, August.
- Lai, Jennifer T. & McNelis, Paul D. & Yan, Isabel K.M., 2013. "Regional capital mobility in China: Economic reform with limited financial integration," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 493-503.
More about this item
Keywords
Digital finance; Financial development; Cross-regional capital flow; Regional imbalance;All these keywords.
JEL classification:
- E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
- G2 - Financial Economics - - Financial Institutions and Services
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ememar:v:56:y:2023:i:c:s1566014123000407. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620356 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.