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ECONOMIC GROWTH (2) answer(s).
 
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ID:   190399


Financial Structure, Technology, and Economic Growth: a structural matching perspective / Ye, Dezhu ; Ye, Xian ; Huang, Yunjue   Journal Article
Dezhu Ye, Yunjue Huang, Xian Ye Journal Article
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Summary/Abstract Different types of capital are better suited to financing technologies with different risk profiles, and structural matching between finance and technology may critically influence economic growth. Using cross-province panel data from China, we estimated the impact of the matching relationship between regions' financial structure and technology level on economic growth. We show that: (i) the matching relationship had a statistically significant positive impact on economic growth; (ii) structural mismatching reduced economic growth in comparison with the optimal matching point; (iii) structural matching better facilitated economic growth in more developed regions; and (iv) capital accumulation and technological progress were two of the main channels through which matching influenced economic growth. We address potential endogeneity concerns and perform robustness checks, and our results remain valid. Our findings provide convincing evidence for the optimal financial structure theory and explain China's rapid growth despite its comparatively underdeveloped securities market.
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2
ID:   188152


Unveiling the Relationship between Economic Growth and Equality for Developing Countries / Cheong, Tsun Se   Journal Article
Cheong, Tsun Se Journal Article
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Summary/Abstract This study investigates the relationship between economic growth and inequality by employing the artificial neural network approach. There are many important findings. First, this work reveals the underlying functional form of economic growth and inequality by using three-dimensional diagrams. Second, the findings show that there was an inverted-U relationship between economic growth and inequality. This explains apparent contradictions in research findings in the literature. Third, the optimal level of inequality, which corresponds to the highest level of economic growth, is computed for different economies. Our findings were confirmed by the development processes in many developing countries and also in China in recent years, thereby highlighting the importance of inequality alleviation in promoting further economic growth. These findings enable us to derive pragmatic policy implications for other developing countries at different stages of economic development in achieving sustainable growth with equity.
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