The Structure of Household Financial Assets in Developed Countries

Struktura finančních aktiv domácností ve vyspělých státech

Petr Musílek

Český finanční a účetní časopis, 2015, vol. 2015, issue 2, 7-22

Abstract: This paper analyzes the different approaches to the allocation of household savings in selected developed countries. We discuss not only the essential characteristics of financial instruments, but attention is also devoted to the analysis of the structure of household financial assets in the US, UK, Germany, Italy and Japan. Finally, the article explores the most important factors that cause the structure of the financial assets of households in developed countries. To sum up, among the main factors having influence on structure of households´ financial portfolios in the analyzed countries belong: total value of their assets and income, returns volatility of financial instruments, risk aversion and liquidity of financial instruments, chosen model of the pension system, demographic structure, effective protection of the rights of outside investors, financial literacy and traditional behavior patterns of the population.

Keywords: Bank Deposits; Securities; Pension Funds; Life Insurance; Bankovní depozita; Cenné papíry; Penzijní fondy; Životní pojištění (search for similar items in EconPapers)
JEL-codes: G11 (search for similar items in EconPapers)
Date: 2015
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DOI: 10.18267/j.cfuc.441

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