High sex ratios and household portfolio choice in China
This paper studies how high sex ratios (more men than women) affect household portfolio choice. Using data from a nationally representative Chinese household finance survey, we find that a 1 standard deviation increase in the sex ratio would raise the stock market participation rate by 2.9 percentag...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2022
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/6563 https://ink.library.smu.edu.sg/context/lkcsb_research/article/7562/viewcontent/High_Sex_Ratios_and_Household_Portfolio_Choice_in_.pdf |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | This paper studies how high sex ratios (more men than women) affect household portfolio choice. Using data from a nationally representative Chinese household finance survey, we find that a 1 standard deviation increase in the sex ratio would raise the stock market participation rate by 2.9 percentage points or 52.2 percent for families with a son relative to families with a daughter. Our estimates imply that rising sex ratios explain around 10 percent of the significant growth in China’s stock market size in recent decades. |
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