Zhanyu Ying
Author information
School of Finance, Central University of Finance and Economics, Beijing 100081, China
E-mail: zhanyuying@263.net
Abstract
In terms of China’s financial intermediation ratio (FIMR) in stock, we make a thorough empirical study on the change of the ratios during 1992–2006. We find that: The monopoly position of bank credit in the financing channel of non-financial sector is weakened, but bank credit is still the most important financing channel for non-financial sector. There is a structure change in the financing channel of government sector and its FIMR is increasing. Though the scale of non-banking financial institutions underwent rapid development during 1992–2006, their role in social financing cannot be evenly matched with banking system. It is the change of various economy behaviors that induce the changes of FIMR in China.
financial intermediation ratio , stock index , financial structure
Zhanyu Ying. Study on the Measurement of China’s Financial Intermediation Ratio in Terms of Stock: 1992–2006. Front Econ Chin, 2010, 5(3): 430‒444 https://doi.org/10.1007/s11459-010-0106-0n
