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Households debts and financial market participation in Korea

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  • Households debts and financial market participation in Korea
  • Choi, Wonho최원호
  • Korea Insurance Research Institute


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Title Households debts and financial market participation in Korea
Similar Titles
Material Type Articles
Author(English)

Choi, Wonho

Author(Korean)

최원호

Publisher

[Seoul, Korea]:Korea Insurance Research Institute

Date 2016-05
Journal Title; Vol./Issue 보험금융연구:vol. 27(no. 2)
Pages 41
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Economic System
Holding Korea Insurance Research Institute

Abstract

This paper examines household participation in the financial market in response to changes in household debts, disposable income, and real estate. Only less 11 percent of households have participated in the stock market, and less than 0.4 percent have participated in the bond market. However, the participation rate is twice as high in fund markets than in stock markets. Financial debt chiefly results in impingement on financial market participation and is strongly pronounced, especially in fund markets. In contrast, real estate and disposable income tends to boost market participation, offsetting the effect of household debts. In fact, real estate increases household’s likelihood of participating in financial markets by 5 percent or more while an increase in disposable income increases by a range of at least 8 percent in liquid markets to 15.3 percent in fund markets, respectively.