Author(s)

Zhang Lipan, Peng Jingyi, Zhang Zhengjie

Corresponding Author

Zhang Zhengjie

Abstract

This paper uses the China Household Finance Survey (CHFS) data and instrumental variable analysis method to study the impact of family housing loans on residents' stock market participation. The results show that housing loans can significantly increase the probability of household participation in the stock market, but also increase the proportion of household assets allocated to the stock market. Housing loans have a significant positive impact on household participation and participation in the stock market.

Keywords

Household Housing Loan, CHFS, Stock Market Participation