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Fomby finds living with step- or half-siblings linked to higher aggression among 5 year olds

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PRB training program in policy communication for pre-docs. Application deadline, 2.28.2016

Call for proposals: PSID small grants for research on life course impacts on later life wellbeing

PSC News, fall 2015 now available

Barbara Anderson appointed chair of Census Scientific Advisory Committee

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Monday, Feb 1 at noon, 6050 ISR-Thompson
Sarah Miller

Test of Financial Intermediation and Banking Reform in China.

Publication Abstract

Park, Albert F., and Kaja Sehrt. 2001. "Test of Financial Intermediation and Banking Reform in China." Journal of Comparative Economics, 29(4): 608-644.

We develop tests of financial intermediation by national banking systems based on the expectation that, in commercial systems, financial intermediation should not be overly influenced by policy variables; should be greater in richer, faster growing industrial areas; and should direct funds to the best projects regardless of where deposits originate. Using Chinese provincial data from 1991 to 1997, we test whether financial reforms in the mid-1990s increased efficient intermediation by different financial institutions. We find that the importance of policy lending by state banks did not fall during the recent period and that lending by financial institutions did not respond to economic fundamentals.

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