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We examine whether China has benefited more than other countries from financial sector development by performing a meta-analysis of the relevant literature covering a large number of countries at different stages of development. Although the results for China are inconclusive, they indicate the absence of a direct link between financial development and economic growth.
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Ljungvall, C. & Gustavsson Tingvall, P. (2012). Is China Different? A Meta-Analysis of China’s Financial Sector Development. Ratio Working Paper No. 185.