How Do Home Mortgage Loans Affect Household Financial Assets Allocation ——An Empirical Research Based on Household Statement
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Abstract House mortgage loans have become one of the most important financial consumption behaviors of China household. Combined with household financial statements, the analysis shows that home mortgage loans reduce the proportion of bank deposits in the financial assets. It also decreases the total amount of household financial assets though “push-out effect” at the same time, and also has significant impact on household financial assets allocation. By use of method of propensity scores matching (PSM), the empirical research demonstrates that the total amount of financial assets and proportions of bank deposits in households with home mortgage loans are significantly lower than that in households without home mortgage loans, which is coincide with the theoretical research. Overall, in the process of house purchasing with home mortgage loans during the current period, the condition of household financial assets allocation is heavily affected by home mortgage loans.
ZHOU Hong. How Do Home Mortgage Loans Affect Household Financial Assets Allocation ——An Empirical Research Based on Household Statement. Economic Survey, 2015, 32(1): 0150.
2015, Vol. 32 
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