Policy Issues of China's Financial Globalization

Barth, James R.; Li, L.; Li, T.; Song, Frank M.

doi:10.1016/b978-0-12-397874-5.00006-3

Cited by 2 publications

(1 citation statement)

References 4 publications

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“…First, China is the first country to experience the outbreak of COVID-19 and to recover from it, which offers us a complete period of the outbreak and recession of the pandemic to observe its impact. Second, the financial system in China is bank-dominated, which offers us a clear angle to understand the Chinese financial system stability [1].…”

Section: Introductionmentioning

confidence: 99%

Impacts of the COVID-19 Pandemic on Chinese Banking System: Measuring Volatility Connectedness

2023

AEMPS

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In this paper, we study the impacts of the COVID-19 pandemic on the connectedness of the Chinese banking system, and explore the heterogeneity effect of this pandemic. We construct static and dynamic analysis on 14 Chinese banks by building the volatility spillover network proposed by Diebold and Yilmaz to assess the volatility spillover effects caused by COVID-19, and compare it with the previous financial crises in the past 12 years. The empirical findings show that the COVID-19 did impact the connectedness of Chinese banking system and its structure within the system, with the 14 Chinese banks highly interconnected especially during COVID-19 era. In addition, the highly connected and contagious status of Chinese banking system didn't stay long during COVID-19 era compared with previous crises. Moreover, we find a shock-passing path during the COVID-19 era: big banks deliver more shocks to the middle banks, and the middle banks send more shocks to small banks. At the same time, our work presents that state-owned banks, during COVID-19 era, were more contagious and the local banks were more vulnerable compared with their historical performance.

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Section: Introductionmentioning

confidence: 99%

Impacts of the COVID-19 Pandemic on Chinese Banking System: Measuring Volatility Connectedness

2023

AEMPS

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Valuation of the Countries’ Conventional and Nonconventional Monetary Policy Tools in Shrinking Periods

Demirtaş

2024

AJIBM

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Whether monetary policies implemented in contracting periods are pro-growth and in what situations they will be effective is a matter of debate. However, especially during and after the 2008 crisis, policy sets have become increasingly diversified, and not only traditional but also non-traditional policies have begun to be used extensively. In this study, answers to the effectiveness of monetary policy on global growth were sought both at the theoretical level and the policies examined with extensive country examples. Although policies have diversified in the final view, the effectiveness of the harmony in monetary policies on global growth can be seen in these periods.

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Policy Issues of China's Financial Globalization

Cited by 2 publications

References 4 publications

Impacts of the COVID-19 Pandemic on Chinese Banking System: Measuring Volatility Connectedness

Impacts of the COVID-19 Pandemic on Chinese Banking System: Measuring Volatility Connectedness

Valuation of the Countries’ Conventional and Nonconventional Monetary Policy Tools in Shrinking Periods

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