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The Construction and Analysis of Financial Liberalization Index of China

Received: 11 May 2017     Accepted: 3 June 2017     Published: 13 July 2017
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Abstract

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).

Published in International Journal of Business and Economics Research (Volume 6, Issue 4)
DOI 10.11648/j.ijber.20170604.11
Page(s) 48-52
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2017. Published by Science Publishing Group

Keywords

Financial Liberalization Index, China, Principal Component Analysis

References
[1] Liu Yi, Shen Hong. Financial marketization of the measurement analysis [J]. Finance and Economics Research, 2002 (9).
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[3] Xiaojiu Zhuang. Construction of China's financial marketization index [J]. Finance Research, 2007 (11).
[4] Williamson,John and Mahar,Molli,1998,“A Survey of Financial Liberalization” [J],Essays in International Finance,No.211, November.
[5] 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.
[6] 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.
[7] 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.
[8] Koo Jaewoon and Sunwoo Shin, 2004, “Financial Liberalization and Corporate Investments: Evidence from Korean Firm Data”, Asian Economic Journal, vol.18, issue3, pages277-292.
[9] Nicolas•Borst, Nicolas•lardy, Li Xiang. Progress of financial liberalization and financial stability of China [J], International Economic Review, 2015(3): 168-171.
[10] Xiaofei Liu. Financial market measure、marketization process and economic growth of China [J], Manager’ Journal, 2015(12): 68-78.
[11] Huachao Zha, Pei Ping. Chinese Financial Market Level and Measure [J], Research on Economics and Management, 2016, 37(10): 22-30.
[12] 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.
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  • APA Style

    Nie Lei, Shigui Tao. (2017). The Construction and Analysis of Financial Liberalization Index of China. International Journal of Business and Economics Research, 6(4), 48-52. https://doi.org/10.11648/j.ijber.20170604.11

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    ACS Style

    Nie Lei; Shigui Tao. The Construction and Analysis of Financial Liberalization Index of China. Int. J. Bus. Econ. Res. 2017, 6(4), 48-52. doi: 10.11648/j.ijber.20170604.11

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    AMA Style

    Nie Lei, Shigui Tao. The Construction and Analysis of Financial Liberalization Index of China. Int J Bus Econ Res. 2017;6(4):48-52. doi: 10.11648/j.ijber.20170604.11

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  • @article{10.11648/j.ijber.20170604.11,
      author = {Nie Lei and Shigui Tao},
      title = {The Construction and Analysis of Financial Liberalization Index of China},
      journal = {International Journal of Business and Economics Research},
      volume = {6},
      number = {4},
      pages = {48-52},
      doi = {10.11648/j.ijber.20170604.11},
      url = {https://doi.org/10.11648/j.ijber.20170604.11},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20170604.11},
      abstract = {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).},
     year = {2017}
    }
    

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    T1  - The Construction and Analysis of Financial Liberalization Index of China
    AU  - Nie Lei
    AU  - Shigui Tao
    Y1  - 2017/07/13
    PY  - 2017
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    DO  - 10.11648/j.ijber.20170604.11
    T2  - International Journal of Business and Economics Research
    JF  - International Journal of Business and Economics Research
    JO  - International Journal of Business and Economics Research
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    PB  - Science Publishing Group
    SN  - 2328-756X
    UR  - https://doi.org/10.11648/j.ijber.20170604.11
    AB  - 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).
    VL  - 6
    IS  - 4
    ER  - 

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Author Information
  • Department of Finance, Nanjing Normal University, Nanjing, China

  • Department of Finance, Nanjing Normal University, Nanjing, China

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