The Research On Influence Factors Of Shadow Banks In China

Shadow banks are widely mentioned since financial crisis in 2008,The growing financial leverage of entire society which is caused by the shadow banking system has made all aspects of society paying more and more attention to the shadow banks.That also make the shadow bank to be a hot topic in recent years again.Academia's researches on the shadow banks are never stopped.Because of its complex architecture,diverse forms and changing methods of operation,we even don't reach agreement on it's definition,not to mention the scale measurement,the investigation of influencing factors,the analysis of the pros and cons and the method of supervision.This paper is based on the orderly clustering of the monthly scale time series of shadow banks in China,using principal component analysis to explore the main influencing factors at different stages.The results show that between January 2000 and December 2016,in addition to macroeconomic development and monetary policy,the scale mainly influenced by fixed asset investment,real estate prices and the stock market in different period.