Homeownership and financial literacy
Evidence from China in the perspective of ‘learning by doing’
Datos Bibliográficos
| ID | 11484100 |
|---|---|
| Autores | Siliang Wang (0000-0002-2111-0431, Hunan University, autor de correspondencia), Yang Liu (0000-0003-1220-7044, Hunan University) |
| Año | 2024 |
| Volumen | 39 |
| Número | 11 |
| Páginas | 2827-2851 |
| Fecha de publicación | 2024-10-04 |
| Peer Reviewed | Sí |
| Open Access | No |
| Tipo | ARTICLE |
| Revista | Housing Studies (JOURNAL) |
| Identificadores de la revista | ISSN: 0267-3037 • E-ISSN: 1466-1810 |
| Editorial | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/02673037.2023.2228238 |
| OpenAlex | W4383067603 |
| Idioma | EN |
| Citas recibidas | 1 |
| Referencias citadas | 62 |
Financial literacy is becoming an increasingly important policy consideration, yet its determinants are still underexplored. From the theoretical perspective of ‘learning by doing’, the effect of homeownership on financial literacy in urban China is identified by the instrumental variable strategy. First, the borrowing experience to purchase a home can awaken homeowners to develop basic financial knowledge, but the resulting debt burden constrains homeowners from participating in the financial market, crowding out their access to advanced financial skills. Second, the growth in home equity wealth induces homeowners pledge high-value properties as collateral and invest in more homes, in which case the collateralizing experience facilities the advancement of basic finance literacy, while locking the asset portfolio in the housing sector hinders homeowners from learning advanced financial skills. Moreover, the specific kind of financial literacy that homeowners show an advantage in differs depending on their income. These findings cast a new light on understanding the return of housing property to family financial affairs
Asset (computer security · Business · China · Collateral · Debt · Economics · Equity (law · Financial asset · Financial literacy · Home equity · Pledge · Political science · Portfolio · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Housing, Finance, and Neoliberalism · Finance
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| Obras citantes distintas | 1 |
|---|---|
| Citas por año | 1 |
| Intervalo de citas | 2026 - 2026 (1) |
| Velocidad de citación | current |
| Altamente citado | No |
| Tipos de cita | Neutras: 1 |