The Construction and Analysis of Financial Liberalization Index of China
International Journal of Business and Economics Research
Volume 6, Issue 4, August 2017, Pages: 48-52
Received: May 11, 2017;
Accepted: Jun. 3, 2017;
Published: Jul. 13, 2017
Views 1932 Downloads 90
Nie Lei, Department of Finance, Nanjing Normal University, Nanjing, China
Shigui Tao, Department of Finance, Nanjing Normal University, Nanjing, China
Follow on us
This paper reviews the literature on financial liberalization, defines financial liberalization as a comprehensive reflection of the following aspects: interest rate liberalization, credit control relaxation, measures to encourage competition, macro-prudential supervision, diversification of banking property rights, securities market reform, international financial liberalization. For the past five years, almost all the major events in the process of China's financial liberalization are sorted out and assigned, then this paper uses PCA to do empirical analysis and constructs CFLI(financial liberalization index of China).
Financial Liberalization Index, China, Principal Component Analysis
To cite this article
The Construction and Analysis of Financial Liberalization Index of China, International Journal of Business and Economics Research.
Vol. 6, No. 4,
2017, pp. 48-52.
Copyright © 2017 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/
) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Liu Yi, Shen Hong. Financial marketization of the measurement analysis [J]. Finance and Economics Research, 2002 (9).
Wenfei Yi, Ding Dan. China's financial liberalization index design and analysis [J]. Economic Sciences, 2007 (3).
Xiaojiu Zhuang. Construction of China's financial marketization index [J]. Finance Research, 2007 (11).
Williamson，John and Mahar，Molli，1998，“A Survey of Financial Liberalization” [J]，Essays in International Finance，No.211, November.
Montiel, P and Reinhart, C. M., 1999, “Do capital controls and macroeconomic polices influence the volume and composition of capital flows? Evidence from the 1990s”. Journal of International Money and Finance 18, pp.619-635.
Bandiera Oriana & Gerard Caprio & Patrick Honohan & Fabio Schiantarelli, 2000, “Does Financial Reform Raise or Reduce Saving” [J], The Review if Economics and Statistics, MIT Press, vol.82(2), pages 239-263, May.
Kaminsky, Graciela and Schmukler, Sergio, 2003,“Short-Run Pain, Long-Run Gain: The Effect of Financial Liberalization”, International Monetary Fund, IMF Working Papers, vol.03/34.
Koo Jaewoon and Sunwoo Shin, 2004, “Financial Liberalization and Corporate Investments: Evidence from Korean Firm Data”, Asian Economic Journal, vol.18, issue3, pages277-292.
Nicolas•Borst, Nicolas•lardy, Li Xiang. Progress of financial liberalization and financial stability of China [J], International Economic Review, 2015(3): 168-171.
Xiaofei Liu. Financial market measure、marketization process and economic growth of China [J], Manager’ Journal, 2015(12): 68-78.
Huachao Zha, Pei Ping. Chinese Financial Market Level and Measure [J], Research on Economics and Management, 2016, 37(10): 22-30.
Dai Wei, Xuefang Zhang. Financial development、financial liberalization and the efficiency of capital allocation of the real economy [J], Journal of Audit & Economics, 2017 (1): 117-126.