On the Influencing Factors of Assets Shortage in China:Theoretical and Empirical Evidence
基于C-I指数和自设统计指标，估计了中国资产短缺程度并分析其影响因素，发现经济高速增长与金融发展滞后是主因，长期需通过金融发展增加优质金融资产供给。
This paper estimates the extent of assets shortage in China and empirically analyzes the influencing factors of the assets shortage based on the C -I index(Chen and Imam,2011) and the specific set which the authors make for some statistic indicators.The study indicates that sustained rapid economic growth and seriously - lagging - behind financial development are the most important factors that cause Chinese assets shortage; although adverse exogenous shocks can ease the domestic assets shortage pressure,this only means that the large number of hedge funds exits temporarily from the field of high - risk investment;and actually the extent of Chinese assets shortage has not been changed fundamentally.Further study shows that although the lower real interest rate will help alleviate the pressure of domestic assets shortage,however,if expecting to fundamentally solve Chinese assets shortage,this is still the key to supply more domestic high - quality financial assets to domestic investors by continuing to promote vigorously financial development in the long term.