Date of Award
2019
Document Type
Thesis
Degree Name
Bachelors
Department
Social Sciences
First Advisor
Yu, Sherry
Area of Concentration
Economics
Abstract
This thesis examines the critical role of shadow banking system in driving China’s housing price growth. Utilizing components from the Total Social Financing instrument used by the Chinese government to measure shadow banking activities, this thesis empirically estimates their effects on the rising housing prices. A panel data of 35 cities and provincial-level control variables is constructed and estimated using the Arellano- Bover/Bluendell-Bond Dynamic Ordinary Least Square method. Results show that shadow banking activities are significant in driving China’s housing price growth. Lastly, policy recommendations are provided to address systemic risk and banking reform in China.
Recommended Citation
Angelov, Dimitri, "CHINA’S HIDDEN SHADOW AND UNDERGROUND FINANCING" (2019). Theses & ETDs. 5640.
https://digitalcommons.ncf.edu/theses_etds/5640