Does Financial Intermediation Development Increase Per Capita Income in Rural China?

Autor:	Xiurong He, Roderick M. Rejesus, Suwen Pan
Rok vydání:	2009
Předmět:	Labour economics business.industry Total personal income Financial intermediary Per capita Economics Distribution (economics) Regression analysis Per capita income Random effects model business General Economics Econometrics and Finance Quantile regression
Zdroj:	China & World Economy. 17:72-87
ISSN:	1749-124X 1671-2234
Popis:	This paper investigates the impacts of financial intermediary (or banking) development on village-level per capita income using a Chinese dataset for selected years between 1993 and 2006. The empirical results from a random effect regression model indicate that mean per capita income in rural villages follows an inverted U-shaped path as financial intermediation develops. However, using a pooled quantile regression approach, we find that median per capita income in rural villages follows a positive linear path, rather than an inverted U-shaped path, as financial intermediation develops. The positive linear effect of financial intermediary development is observed at the lower and higher ends of the conditional per capita income distribution. This suggests that development of financial intermediation in China might not have statistically significant differential effects in low-income or high-income rural villages.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::245e9e1a637d56ad3eb3d6a54946a33f https://doi.org/10.1111/j.1749-124x.2009.01159.x Zobrazit plný text záznamu Plný text