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    Infrastructure, Urbanization, and Demand for Bank and Non-Bank Loans of Households in the People's Republic of China

    Lyons, Angela C.; Grable, John E.; Zeng, Ting | July 2017
    Abstract
    Financial inclusion plays an important role in giving households greater access to borrowing opportunities, which in turn can be used to improve human capital accumulation, socioeconomic status, and long-run economic development. One way to enhance households’ access to and usage of the financial system, especially the formal banking system, is to ensure that an adequate infrastructure exists within their community. This study uses data from the 2013 Chinese Household Finance Survey to investigate how the infrastructure affects the usage of formal bank loans for both urban and rural households in the People’s Republic of China (PRC). The analysis is extended to investigate the impacts of the infrastructure on non-bank loans. The results suggest that the infrastructure, in a variety of forms (e.g., physical, financial, technological, social, and informational), is significantly associated with the loan demand—most notably for urban households using formal bank loans. Further, those living in more urbanized areas and megacities are less likely to demand bank and non-bank loans even after controlling for other factors, suggesting that there may be an “urbanization effect” that is dampening credit access and usage. The potential endogeneity between the infrastructure and the loan demand is taken into consideration. The results show that decisions related to the loan demand and infrastructure mostly appear to be made independently. The findings from this research have important implications for the PRC and other countries working on national strategies aimed at improving financial inclusion, especially the expansion of bank credit in rapidly growing urbanized areas, where the infrastructure may be reaching capacity.
    Citation
    Lyons, Angela C.; Grable, John E.; Zeng, Ting. 2017. Infrastructure, Urbanization, and Demand for Bank and Non-Bank Loans of Households in the People's Republic of China. © Asian Development Bank Institute. http://hdl.handle.net/11540/7629.
    Keywords
    Taxation
    Public Accounting
    National Budget
    Municipal Bonds
    Local Government
    Local Taxes
    International Monetary Relations
    International Financial Market
    International Banking
    Central Banks
    Business Financing
    Capital Resources
    Budgetary Policy
    Capital Needs
    Corporate Divestiture
    Capital Instruments
    Pension Funds
    Insurance Companies
    Banks
    Portfolio Management
    Fiscal Administration
    Economics of Education
    Development Banks
    Urban Plans
    Urbanism
    Urban agriculture
    Economic Development
    Rural Urban Migration
    Cities
    Urban Development Finance
    Trade Finance
    Small Business Finance
    Rural Finance
    Roundtable on International Trade and Finance
    Regional Development Finance
    Public Service Finance
    Public Finance
    Project Finance
    Private Finance
    Nonbank Financing
    Non-Bank Financial Institutions
    Municipal Finance
    Local Government Finance
    Local Currency Financing
    Limited Resource Financing
    International Financial Institutions
    Infrastructure Financing
    Industrial Finance
    Government Financial Institutions
    Government Finance
    Financing of Infrastructure
    Financial Sector Development
    Financial Regulation
    Urbanization
    Urban Services
    Urban Projects
    Urban Problems
    Urban Poverty
    Urban Policy
    Urban Planning
    Urban Infrastructure
    Urban Health
    Urban Government
    Urban Economic Development
    Urban Development Finance
    Urban Development
    Urban Conditions
    Urban Communities
    Urban Population
    Use tax
    Taxing power
    State of taxation
    Tax-sales
    Tax revenue estimating
    Tax planning
    Spendings tax
    Special assessments
    Tax administration and procedure
    Sales tax
    Real property and taxation
    Progressive taxation
    Effect of taxation on land use
    Effect of taxation on labor supply
    Intergovernmental tax relations
    Inheritance and transfer tax
    Energy tax
    Local government
    Urban renewal
    Urban housing
    Urban sociology
    Transit systems
    Rapid transit
    Public transit
    Mass transit
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    Citable URI
    http://hdl.handle.net/11540/7629
    Metadata
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    adbi-wp767.pdf (763.0Kb)
    Author
    Lyons, Angela C.
    Grable, John E.
    Zeng, Ting
    Theme
    Finance
    Urban
    Labor Migration
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise