Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/279552 
Year of Publication: 
2023
Series/Report no.: 
Würzburg Economic Papers No. 107
Publisher: 
University of Würzburg, Department of Economics, Würzburg
Abstract: 
This study describes the Chinese growth model over the past 40 years. We show that China's growth model, with its dominant role of the banking system and "the banker", is a perfect illustration of the necessity and power of Schumpeter's "monetary analysis". This approach has allowed us to elaborate theoretically and empirically the uniqueness of the Chinese model. In our empirical analysis, we use a new dataset of Chinese provincial data to analyze the impact of the financial system, especially banks, on Chinese economic development. We also empirically assess the role of the financial system in Chinese industrial policy and provide case studies of the effects of industrial policy in specific sectors. Finally, we also discuss macroeconomic dimensions of the Chinese growth process and lessons that can be drawn from the Chinese experience for other countries.
Subjects: 
Bank credit
Bank-led Growth
China
Economic development
Economic growth
Finance
Finance-growth nexus
Industrial Policy
Strategic Emerging Industries
JEL: 
E
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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