Jianjun Zhang
A new composite financial maturity index and its application to China’s province-level regions
Zhang, Jianjun; Zhao, Zuoxiang; Tucker, Jon
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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