{"title":"Do Financial Structural Characteristics Affect Economic Resilience?","authors":"Yujia Chen, Fuqiang Wu, Guihong Hua","doi":"10.1002/ijfe.3185","DOIUrl":null,"url":null,"abstract":"<div>\n \n <p>This study uses data from 31 provinces in China between 2006 and 2020 to investigate the impact of financial structure on economic resilience. The findings show a significant inverted U-shaped relationship between financial structure and economic resilience. Financial structure has a positive effect on economic resilience before reaching the inflection point; however, the impact becomes negative after reaching it. Endogeneity and robustness tests support this conclusion. Furthermore, factors such as crises, economic development levels, and the financial ecosystem moderate the relationship between financial structure and economic resilience. Finally, convergence tests reveal that disparities in financial structure and economic resilience across different regions in China are gradually narrowing, with financial structure converging towards the inflection point.</p>\n </div>","PeriodicalId":47461,"journal":{"name":"International Journal of Finance & Economics","volume":"31 1","pages":"1089-1107"},"PeriodicalIF":3.7000,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Finance & Economics","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/ijfe.3185","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
This study uses data from 31 provinces in China between 2006 and 2020 to investigate the impact of financial structure on economic resilience. The findings show a significant inverted U-shaped relationship between financial structure and economic resilience. Financial structure has a positive effect on economic resilience before reaching the inflection point; however, the impact becomes negative after reaching it. Endogeneity and robustness tests support this conclusion. Furthermore, factors such as crises, economic development levels, and the financial ecosystem moderate the relationship between financial structure and economic resilience. Finally, convergence tests reveal that disparities in financial structure and economic resilience across different regions in China are gradually narrowing, with financial structure converging towards the inflection point.
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