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The Study on the Relationship between China’s Financial Marketization and Macro Investment Efficiency
Author(s): 
Pages: 50-54
Year: Issue:  3
Journal: Xi'an Finance

Keyword:  financial marketizationmacro investment efficiencycausality testinternational comparison;
Abstract: In recent years, the reform of China’s financial marketization has been deepening, but China’s macro investment efficiency has been declining and reduced economic growth rate. The paper studies the relationship between the financial marketization and macro investment efficiency according to different stages in China, and finds that in the period of non-financial crisis, the financial marketization has played a positive role in promoting the macro investment efficiency. But after the global financial crisis in 2008, the financial marketization has placed a negative effect on the rise of the macro investment efficiency. The further international comparison shows that the development of China’s financial marketization is relatively slow and fluctuates greatly, and it has not been in a steady state of the investment margin. Combined with the above research conclusions, the paper proposes some measures such as expanding direct financing, exploring new financial model and so on to promote the rise of China’s macro investment efficiency.
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