| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14939 |
| DP14939 The Long-lasting Effects of Experiencing Communism on Attitudes towards Financial Markets | |
| Christine Laudenbach; Ulrike M. Malmendier; Alexandra Niessen-Ruenzi | |
| 发表日期 | 2020-06-24 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Attitudes towards capital markets and stock-market investment still differ widely between Western and formerly communist countries, but there is also significant heterogeneity within the East. We argue that the speed of convergence is predicted by the quality of life-time experiences under communism. Utilizing novel German brokerage and bank data we document that, decades after Reunification, East Germans invest significantly less in stocks and hold more negative views on capital markets if they had unrelated positive experiences, e.g., from Olympic games or living in celebrated showcase cities. Results reverse for East Germans with negative experiences, like environmental pollution and religious oppression. |
| 主题 | Economic History ; Financial Economics |
| 关键词 | Capital markets Communism Life-time experiences Positive versus negative emotional tagging Stock-market participation |
| URL | https://cepr.org/publications/dp14939 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543883 |
| 推荐引用方式 GB/T 7714 | Christine Laudenbach,Ulrike M. Malmendier,Alexandra Niessen-Ruenzi. DP14939 The Long-lasting Effects of Experiencing Communism on Attitudes towards Financial Markets. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
