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首页> 外文期刊>Applied Economics >Bank loan versus financial lease: how do traditional and innovative approaches within the banking sector influence economic growth? A comparative analysis between the US and China
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Bank loan versus financial lease: how do traditional and innovative approaches within the banking sector influence economic growth? A comparative analysis between the US and China

机译：银行贷款与财务租赁：银行业在银行业内的传统和创新方法如何影响经济增长？美国与中国的比较分析

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摘要

The argument over the effects of financial structures on economic growth remains unsettled. This study, therefore, compares the dynamic correlation and lead-lag relationship between the different financial approaches within the banking sector (that is, traditional bank loans versus innovative financial leasing) and economic growth. We employ a continuous wavelet analysis using time-series data from 1982-2017 from the US (the world's largest developed country) and China (the world's largest developing country). The empirical results show that (1) episodes of significant correlation usually emerge during periods of reform, crisis or policy implementation; and (2) in China, traditional banking promotes economic growth in the long term, while the real economy only imputes the evolution of banks during critical economic reforms in the short term. Meanwhile, financial leasing could only promote the development of the real economy under suitable regulation; and (3) in the US, before the crises, the irrational growth of the real economy could increase bank assets, while during the crises, the traditional banking approach harms economic growth, and after the crises, financial leases play an important role in recovery. Therefore, we suggest that policymakers should establish adequate policies and regulations to solve the situation.
机译：财务结构对经济增长影响的论点仍未令人不安。因此，本研究比较了银行业内部不同金融方法之间的动态相关和引导关系（即传统银行贷款与创新的财务租赁）和经济增长。我们使用来自美国（全球最大发达国家）和中国（世界上最大的发展中国家）的时间序列数据使用连续的小波分析。经验结果表明，（1）在改革，危机或政策实施期间，通常出现了重大相关性的剧集; （2）在中国，传统银行业务长期促进经济增长，而实体经济仅在短期内批判经济改革中的银行演变。与此同时，金融租赁只能促进在合适的规则下实现实体经济的发展; （3）在美国，在危机之前，实体经济的非理性增长可以增加银行资产，而在危机期间，传统的银行方法危害经济增长，危机后，金融租赁在恢复中发挥重要作用。因此，我们建议政策制定者应建立适当的政策和法规以解决局势。

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