Bit Notes 19

Household portfolio and demand for equity: an international comparison

Valentina Coraggio, Alessandra Franzosi - May 2008

Abstract

Financial assets invested in equity by households are involving an increasing amount of resources. The paper provides, for a group of high financially developed economies, an estimation of the total demand for equity distinguishing direct investment in stocks from equity investment through mutual funds, insurance companies or pension funds. In spite of a scenario of growing financial integration, similarities continue to coexist with strong cross-country differences. In order to understand country-peculiarities, household demand for equity is put in relation to the overall household financial portfolio, to its role in domestic stock markets through listed companies shareownership and to the main features of national asset management industries.

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