This paper reviews recent research on shadow banking system. The reviewed research mainly involves : the definition (or scope) of shadow banking system, what drives the growth of shadow banking, assessing the size of the shadow banking, the role that the shadow banking played in the financial crisis, the regulation of the shadow banking. While the reviewed articles provide sound advices for the regulation of the shadow banking system, it is still tentative. Moreover, the main research method is still the theoretical analysis. Further research is needed to focus more on how to assess the size of the global shadow banking sector, how to regulate the shadow banking system effectively and to develop new approaches such as model analysis and empirical analysis.
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