Abstract:Based on endogenous growth theory, this paper first discusses the impact mechanism of the development and outward foreign direct investment (OFDI) in the financial sector on economic growth. Then, using provincial panel data spanning the period 2006-2016, we test the impact of financial development, with respect to financial correlation, stock and bond market size, and financial added value, on China's economic growth. We also employ the ratio of each province's bank credit, stock market size, bond issuance an… Show more
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