Shadow banking and firm financing in China

International Review of Economics and Finance

Volumn 36, Issue , 2015, Pages 40-53

  Lu, Yunlin ^a   Guo, Haifeng ^b   Kao, Erin H ^c   Fung, Hung Gay ^d  

^a NANJING AUDIT UNIVERSITY   (China)

^b HARBIN INSTITUTE OF TECHNOLOGY   (China)

^c LING TUNG UNIVERSITY   (Taiwan)

^d UNIVERSITY OF MISSOURI ST LOUIS   (United States)

Author keywords

Growth; Market impediment; Regulations; Shadow banking; Size

Indexed keywords

EID: 84923551747     PISSN: 10590560     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.iref.2014.11.006     Document Type: Article

References (45)

1. Articlebase China guarantee industry investments and market outlook to 2011 http://www.articlesbase.com/investing-articles/china-guarantee-industry-investments-and-market-outlook-to-2011-2564396.html.
2. Ayyagari Meghana, Demirg-Kunt Asli, Maksimovic Vojislav Formal versus informal finance: Evidence from China. Journal of International Business Studies 2010, 23(8):3048-3097.
3. Ba Shusong Strengthening supervision of the shadow banking system. Chinese Finance 2009, 14:24-25.
4. Bank of International Settlements (BIS) Basel III: A global regulatory framework for more resilient banks and banking systems. Basel Committee on Banking Supervision 2011, June, (http://www.bis.org/publ/bcbs189.pdf).
5. Besancenot Damien, Vranceanu Radu Banks' risk race: A signaling explanation. International Review of Economics and Finance 2011, 20:784-791.
6. Bloomberg China's Yuan loans trail estimates http://www.bloomberg.com/news/2013-01-10/china-december-new-yuan-loans-and-money-supply-trail-estimates.html.
7. China Daily China to legalize private lending to ease rural credit pressure http://www.chinadaily.com.cn/china/2009-03/04/content_7537176.htm.
8. Claessens Stijn, Ratnovski Lev What is shadow banking? Vox CEPR's Policy Portal http://www.voxeu.org/article/what-shadow-banking.
9. Cotterill Joseph Chinese shadow banking: Three different ones, financial times http://ftalphaville.ft.com/2013/05/13/1497362/chinese-shadow-banking-three-different-ones/?/.
10. Credit Suisse China: Shadow banking road to heightened risks, economics research http://doc.research-and-analytics.csfb.com/.
11. Delcoure Matalya The determinants of capital structure in transitional economies. International Review of Economics and Finance 2007, 16:400-415.
12. Financial Stability Analysis Group of the People's Bank of China (FSAG) China financial stability report 2012 2012, June, 33. China Financial Publishing House, Shanghai.
13. Financial Stability Board "Strengthening oversight and regulation of shadow banking", consultative document http://www.financialstabilityboard.org/list/fsb_publications/from_01012010/index.htm.
14. Flaherty Michael, Soh Kelvin Analysis: Too big to fail? China's wealth management products stir debate, reuters http://www.reuters.com/article/2012/12/19/us-china-investment-wealth-idUSBRE8BI1GV20121219/.
15. Fung Esther Foreign private-equity firms retry China property. Wall Street Journal 2013, August 20, (http://online.wsj.com/article/SB10001424127887323423804579024622698202740.html).
16. Guo Haifeng, Brook Robert, Shami Roland Detecting hot and cold cycles using Markov regime switching models - Evidence from the Chinese A-share IPO market. International Review of Economics and Finance 2010, 19:196-210.
17. Hong Shen PBOC shows strongest hand on China's shadow banks. Wall Street Journal 2014, January 7, (http://online.wsj.com/news/articles/SB10001424052702303433304579305540717203978?mod=WSJ_hp_LEFTWhatsNewsCollection).
18. Hsu Sara, Collier Andrew China's shadow banking tug of war. Paper presented at the East Asia Forum 2013, September 16, http://www.eastasiaforum.org/2013/09/16/chinas-shadow-banking-tug-of-war/.
19. International Monetary Fund Global financial stability report http://www.imf.org/external/pubs/ft/gfsr/2013/01/pdf/statapp.pdf.
20. Jenkins Patrick Why peer-to-peer lending remains inherently unsafe. Financial Times 2013, July 22, (http://www.ft.com/intl/cms/s/0/04d6bdce-f2ee-11e2-802f-00144feabdc0.html#axzz2eawmqmbR/).
21. Kazer William China Minsheng banking turns to small-business loans. Wall Street Journal 2013, August 28, (http://online.wsj.com/news/articles/SB10001424127887323324904579040690613408278/).
22. Koons C., McMahan D. Banks work around China's lending limits. Wall Street Journal 2013, (http://online.wsj.com/article/SB10001424127887323423804579022451713979242.html).
23. Li Qiaoyi, Chen Tian Shadow banking won't lead to collapse: IMF official. Global Times 2013, September 14, (http://www.globaltimes.cn/content/811188.shtml#.UkXRx9I3sc5/).
24. Liang Xia Banks, brokerage, trust co-operation of the "trust beneficiary transfers" financing case analysis. Trust Week 2013, 110:20-23. (in Chinese).
25. Liu Li-Gang, Zhou Hao China's shadow banking revisited: Size, implications, risks, and reforms. Caijin 2012, May, (http://english.caijing.com.cn/2012-12-05/112336663.html).
26. McMahon Dinny Trusts flourishing in China, for now. Wall Street Journal 2013, May 8, (http://online.wsj.com/article/SB10001424127887324059704578470672895016066.html).
27. Montlake Simon China's online lenders provide alternative to bank behemoths. Forbes 2013, July, (http://www.forbes.com/sites/simonmontlake/2013/07/08/chinas-online-lenders-provide-alternative-to-bank-behemoths/).
28. Rein Shaun China's private equity boom. Businessweek 2008, July 16, (http://www.businessweek.com/stories/2008-07-16/chinas-private-equity-boombusinessweek-business-news-stock-market-and-financial-advice/).
29. Reuters China's Wenzhou launches private lending index-paper http://www.reuters.com/article/2012/12/08/china-wenzhou-shadowbanking-idUSL4N09I0G920121208/.
30. Roy Saktinil, Kemme David Causes of banking crises: Deregulation, credit booms and asset bubbles, then and now. International Review of Economics and Finance 2012, 24:270-294.
31. Sekiyama Takashi The myth of China's financial time bomb http://www.tokyofoundation.org/en/articles/2013/myth-of-china-financial-time-bomb.
32. Shen Chung-hua Shadow banking or bank's shadow. Industry and Business Daily 2013, July 24, (editorial comment).
33. Sherpa Dawa Shadow banking in India and China. Economic & Political Weekly 2013, 48:113-122.
34. Standard, Poor's Will shadow banking destabilize China's financial system?. Finance Asia 2013, April, 1-3.
35. Wei L. Chinese investors try police to recoup funds. Wall Street Journal 2014, January 21, (Retrived from http://online.wsj.com/news/articles/SB10001424052702304027204579334352118780552?mod=WSJ_hp_LEFTWhatsNewsCollection).
36. Wong Andrea, Kim Kyoungwha Default alarm rings as trust loans jump sevenfold 2013, China Credit, Bloomberg, (http://www.bloomberg.com/news/2013-01-17/default-alarm-rings-as-trust-loans-jump-sevenfold-china-credit.html).
37. Xu Fangfeng Current situation of shadow banking in China. Cooperative Economy and Science 2013, 461(3):66-68. (in Chinese).
38. Yang Na, Ma Yuan Fool's gold behind Beijing loan guarantees http://www.marketwatch.com/story/fools-gold-behind-beijing-loan-guarantees-2012-03-21/.
39. Yi Xianrong Shadow banking rampant in China, China.org.cn http://www.china.org.cn/opinion/2013-01/27/content_27775060.htm.
40. Zhang Anli What is the current status of SMEs financing. Money Weekly 2012, December 3, 46. (http://news.hexun.com/2012-12-03/148631307.html).
41. Zhang Jiaqing, Shen Caisheng Comparative analysis of SME' financing components in Jiangsu Province: An investigation on Jiangsu SMEs. Special Zone Economy 2008, 3:44-46. (in Chinese).
42. Zhu Grace China pushes ahead on deposit-insurance plan. Wall Street Journal 2013, December 19, (Retried from http://online.wsj.com/news/articles/SB10001424052702304866904579269131867253614).
43. Zhu Grace China orders banks to register wealth management products. Wall Street Journal 2013, July 12, (Retrieved from http://online.wsj.com/article/SB10001424127887324425204578601322260593206.html).
44. Zhu Y., Qiao H., Ho E. Asia insight: Informal lending, AlphaWise, Morgan Stanley Research http://www.morganstanley.com/researchdisclosures/.
45. Zou Xiao-Peng, Pang Yu-Xiao, Zhu Hui-Lin 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 2013, 47:3363-3370.