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Financialization and stagnant capital accumulation in China

Using a semi-annual data of listed non-financial corporations from 2007 to 2015, this paper investigates the effect of financialization on capital accumulation in China. The results show that increased financial profit crowds out real investment, especially for small and private firms. Furthermore, the effect of financialization reverts to be positive in the long-run and its cumulative effect manifests a ?U-type? pattern.

Ketersediaan

Call NumberLocationAvailable
PSB lt.2 - Karya Akhir1
Penerbit Bulletin of Monetary Economics and Banking.,
Edisi -
Subjek China
Capital accumulation
Financialization
Polynomial inverse lag
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Deskripsi Fisik -
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