CEU Electronic Theses and Dissertations, 2022
| Author | Chen, Che |
|---|---|
| Title | The lion or the ostrich: how do facing credit constraints affect Chinese household stock assets? |
| Summary | This paper examines the impact of credit constraints on stock holdings per household with the introduction of financial micro-level data on Chinese households. The results of the empirical study show that those households which are facing the credit constraints dilemma have a significantly lower proportion of stock ownership compared to other households, while the main channels between credit constraints and household stock holdings are examined and it is found that credit constraints reduce household stock assets by reducing household total wealth. Further, the paper also classifies credit constraints into two different types of constraints, supply-oriented and demand-oriented, and the regression results show that demand-oriented credit constraints have a greater impact on household stock holdings than supply-oriented credit constraints. In the conclusion section of this paper, recommendations are made to mitigate the sharp rise of income inequality in China against the above findings. |
| Supervisor | Danis, András |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2022/chen_che.pdf |
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