Cross-Country Differences in Household Stock Market Participation: The Role of Gender Norms

Da Ke

AEA Papers and Proceedings, 2018, vol. 108, 159-62

Abstract: What explains substantial variation across countries in household stock market participation? Building on Ke (2018), I hypothesize that the prevailing gender norm in a country is an important cultural factor. In a cross-country analysis, I find that households in countries with strong gender norms are less likely to participate in the stock market. In addition, I present suggestive evidence that gender role attitudes help explain cross-country differences in participation among the wealthy. My findings underscore the role of social norms in shaping household balance sheets across countries.

JEL-codes: D14 G11 J16 O12 O16 Z13 (search for similar items in EconPapers)
Date: 2018
Note: DOI: 10.1257/pandp.20181097
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Citations: View citations in EconPapers (7)

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