Abstract:
Using the credit reporting system as an example, this paper quantitatively evaluates the impact of financial infrastructure on China’s economy. Specifically, we build a quantitative framework to analyze the raw data of the credit reporting system and survey data from national banks and local financial institutions. Our quantitative analysis finds that the credit reporting system has a positive impact on consumption and investment,which accounts for 4.28% of GDP growth in 2012, equivalent to 0.33 percentage points of the growth rate.
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