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A new composite financial maturity index and its application to China’s province-level regions

Zhang, Jianjun; Zhao, Zuoxiang; Tucker, Jon

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Authors

Jianjun Zhang

Zuoxiang Zhao



Abstract

This paper introduces a new regional “financial maturity index” (FMI) based on previous studies of financial development theory. We explore a unified measure of regional financial development by constructing a new composite financial maturity model. This paper presents a regional FMI measurement process to study 31 Chinese provincial level regions for the year 2012. Our empirical results correctly reflect the integrated financial development level of different areas, which can be summarized as gradually diminishing as we move from eastern to western areas within China. This trend is also consistent with the characteristics of China’s regional economic and social development.

Journal Article Type Article
Acceptance Date Nov 7, 2016
Deposit Date Nov 17, 2016
Publicly Available Date Nov 18, 2016
Journal Journal of Finance and Management in Public Services
Print ISSN 1475-1283
Peer Reviewed Peer Reviewed
Volume 15
Issue 1
Keywords financial maturity index, principal component analysis, regional financial development, inequality
Public URL https://uwe-repository.worktribe.com/output/906392
Publisher URL http://www.cipfa.org/policy-and-guidance/the-journal-of-finance-and-management-in-public-services
Contract Date Nov 17, 2016

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