Webbläsaren som du använder stöds inte av denna webbplats. Alla versioner av Internet Explorer stöds inte längre, av oss eller Microsoft (läs mer här: * https://www.microsoft.com/en-us/microsoft-365/windows/end-of-ie-support).

Var god och använd en modern webbläsare för att ta del av denna webbplats, som t.ex. nyaste versioner av Edge, Chrome, Firefox eller Safari osv.

Institutional Quality, Trust and Stock-Market Participation: Learning to Forget

Författare

Summary, in English

We explore the relation between institutional quality, trust and stock-market participation. In our theoretical model, agents update their beliefs in a Bayesian manner based on observations on frauds and choose whether to invest in the stock market. The corresponding empirical model shows that institutional quality affects trust and that the part of trust that is explained by institutional quality influences stock-market participation. For immigrants, we consider learning factors, such as education and duration of stay, and we find that the impact of the institutional quality of the country of residence, relative to that of the home country, tends to increase with education.

Publiceringsår

2014

Språk

Engelska

Publikation/Tidskrift/Serie

Working Paper / Department of Economics, School of Economics and Management, Lund University

Issue

39

Dokumenttyp

Working paper

Förlag

Department of Economics, Lund University

Ämne

  • Economics

Nyckelord

  • institutional quality
  • learning
  • trust
  • stock-market participation

Status

Published