Formal Versus Informal Finance: Evidence From China
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| Main Authors: | , , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
The World Bank
2008
|
| Subjects: | |
| Links: | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4465 |
| Item Description: | Weitere Ausgabe: Ayyagari, Meghana: Formal Versus Informal Finance |
| Physical Description: | 1 Online-Ressource (77 Seiten) |
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| 100 | 1 | |a Ayyagari, Meghana |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Formal Versus Informal Finance |b Evidence From China |c Ayyagari, Meghana |
| 264 | 1 | |a Washington, D.C |b The World Bank |c 2008 | |
| 300 | |a 1 Online-Ressource (77 Seiten) | ||
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| 500 | |a Weitere Ausgabe: Ayyagari, Meghana: Formal Versus Informal Finance | ||
| 520 | 1 | |a China is often mentioned as a counterexample to the findings in the finance and growth literature since, despite the weaknesses in its banking system, it is one of the fastest growing economies in the world. The fast growth of Chinese private sector firms is taken as evidence that it is alternative financing and governance mechanisms that support China's growth. This paper takes a closer look at firm financing patterns and growth using a database of 2,400 Chinese firms. The authors find that a relatively small percentage of firms in the sample utilize formal bank finance with a much greater reliance on informal sources. However, the results suggest that despite its weaknesses, financing from the formal financial system is associated with faster firm growth, whereas fund raising from alternative channels is not. Using a selection model, the authors find no evidence that these results arise because of the selection of firms that have access to the formal financial system. Although firms report bank corruption, there is no evidence that it significantly affects the allocation of credit or the performance of firms that receive the credit. The findings suggest that the role of reputation and relationship based financing and governance mechanisms in financing the fastest growing firms in China is likely to be overestimated | |
| 534 | |c 2008 | ||
| 653 | |a Access to Finance | ||
| 653 | |a Alternative Financing | ||
| 653 | |a Banking System | ||
| 653 | |a Bankruptcy and Resolution of Financial Distress | ||
| 653 | |a Banks and Banking Reform | ||
| 653 | |a Corruption | ||
| 653 | |a Debt Markets | ||
| 653 | |a Finance and Financial Sector Development | ||
| 653 | |a Financial Development | ||
| 653 | |a Financial System | ||
| 653 | |a Financial Systems | ||
| 653 | |a Formal Bank | ||
| 653 | |a Formal Financial Institutions | ||
| 653 | |a Informal Finance | ||
| 653 | |a International Bank | ||
| 700 | 1 | |a Demirgüç-Kunt, Asli |d 1961- |e Verfasser |0 (DE-588)124432891 |4 aut | |
| 700 | 1 | |a Maksimovic, Vojislav |d 1955- |e Verfasser |0 (DE-588)13030980X |4 aut | |
| 776 | 0 | 8 | |i Reproduktion von |a Ayyagari, Meghana |t Formal Versus Informal Finance |d 2008 |
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Record in the Search Index
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| author | Ayyagari, Meghana Demirgüç-Kunt, Asli 1961- Maksimovic, Vojislav 1955- |
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| author_facet | Ayyagari, Meghana Demirgüç-Kunt, Asli 1961- Maksimovic, Vojislav 1955- |
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| indexdate | 2025-01-30T11:01:36Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-025446568 |
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| physical | 1 Online-Ressource (77 Seiten) |
| psigel | ZDB-1-WBA |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | The World Bank |
| record_format | marc |
| spellingShingle | Ayyagari, Meghana Demirgüç-Kunt, Asli 1961- Maksimovic, Vojislav 1955- Formal Versus Informal Finance Evidence From China |
| title | Formal Versus Informal Finance Evidence From China |
| title_auth | Formal Versus Informal Finance Evidence From China |
| title_exact_search | Formal Versus Informal Finance Evidence From China |
| title_full | Formal Versus Informal Finance Evidence From China Ayyagari, Meghana |
| title_fullStr | Formal Versus Informal Finance Evidence From China Ayyagari, Meghana |
| title_full_unstemmed | Formal Versus Informal Finance Evidence From China Ayyagari, Meghana |
| title_short | Formal Versus Informal Finance |
| title_sort | formal versus informal finance evidence from china |
| title_sub | Evidence From China |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4465 |
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