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The study between shadow banking and financial fragility in China: an empirical analysis based on the co-integration test and error correction model

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  • Xiao-Peng Zou
  • Yu-Xiao Pang
  • Hui-Lin Zhu

Abstract

The rapid development of shadow banking manifesting systematic risk has attracted increasing attention recently, but there exists a lack of empirical research in this field. This article applies co-integration analysis and error correction model using annual data during the 2001–2010 period to test the short-term fluctuation and long-term equilibrium between expansion velocity of shadow banking and financial fragility, and puts forward corresponding policy recommendations. Copyright Springer Science+Business Media B.V. 2013

Suggested Citation

  • Xiao-Peng Zou & Yu-Xiao Pang & Hui-Lin Zhu, 2013. "The study between shadow banking and financial fragility in China: an empirical analysis based on the co-integration test and error correction model," Quality & Quantity: International Journal of Methodology, Springer, vol. 47(6), pages 3363-3370, October.
    • Handle: RePEc:spr:qualqt:v:47:y:2013:i:6:p:3363-3370
    DOI: 10.1007/s11135-012-9725-0
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    References listed on IDEAS

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    1. International Monetary Fund, 2011. "People's Republic of China: Financial System Stability Assessment," IMF Staff Country Reports 2011/321, International Monetary Fund.
    2. Michael Carter, 1989. "Financial Innovation and Financial Fragility," Journal of Economic Issues, Taylor & Francis Journals, vol. 23(3), pages 779-793, September.
    3. Gary Gorton & Andrew Metrick, 2010. "Regulating the Shadow Banking System," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 41(2 (Fall)), pages 261-312.
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    Cited by:

    1. Lu, Yunlin & Guo, Haifeng & Kao, Erin H. & Fung, Hung-Gay, 2015. "Shadow banking and firm financing in China," International Review of Economics & Finance, Elsevier, vol. 36(C), pages 40-53.
    2. Ridoy Deb Nath & Mohammad Ashraful Ferdous Chowdhury, 2021. "Shadow banking: a bibliometric and content analysis," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-29, December.

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