The Real Effects of Shadow Banking: Evidence from China

The authors thank Kay Giesecke (the editor), an anonymous associate editor, two anonymous referees, Li An, Zhuo Chen, Bo Li, Chen Lin, Yue Yuan, and Hong Zhang as well as conference participants at the Society for Finance Studies Cavalcade Asia-Pacific 2022, the China Economics Annual Meeting 2022, the China Finance Annual Meeting 2021, the International Annual Conference of the Chinese Scholars Association for Management Science and Engineering 2021, and FinTech, Innovation and Risk Management Workshop 2021 and seminar participants at Tsinghua University for their helpful suggestions and comments. The authors remain responsible for all errors and omissions.