Qin, Duo, Xu, Zhong and Zhang, Xuechun (2014) 'How Much Has Informal Credit Lending Responded to Monetary Policy in China? The Case of Wenzhou.' Journal of Asian Economics, 31-32. pp. 22-31.
Abstract
This study investigates empirically what the major factors are which have driven Wenzhou's informal credit market and how much that market is responsive to monetary policies and the formal banking conditions nationwide. A number of relatively stable factors have been identified from this volatile market through a careful exploration of a monthly survey data set for the period of 2003–2011. The main findings are: (i) Wenzhou's informal credit lending rates are highly receptive to monetary policies; (ii) Wenzhou's market is dominantly demand driven; (iii) Wenzhou's informal lending is substitutive to bank savings in the short run but complementary to banking lending in the long run; and (iv) Wenzhou's market is complementary to excessive investments in the local real estate market.
| Item Type: | Journal Article |
|---|---|
| SOAS Departments & Centres: | Departments and Subunits > Department of Economics Legacy Departments > Faculty of Law and Social Sciences > Department of Economics |
| ISSN: | 10490078 |
| DOI (Digital Object Identifier): | https://doi.org/10.1016/j.asieco.2014.03.001 |
| Date Deposited: | 28 Mar 2014 10:22 |
| URI: | https://eprints.soas.ac.uk/id/eprint/18293 |
Altmetric Data
Statistics
Accesses by country - last 12 months | Accesses by referrer - last 12 months |
Repository staff only
 |
Edit Item |