Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/303039 
Erscheinungsjahr: 
2024
Schriftenreihe/Nr.: 
SAFE Working Paper No. 429
Verlag: 
Leibniz Institute for Financial Research SAFE, Frankfurt a. M.
Zusammenfassung: 
We show that exposure to anti-capitalist ideology can exert a lasting influence on attitudes towards capital markets and stock-market participation. Utilizing novel survey, bank, and broker data, we document that, decades after Germany's reunification, East Germans invest significantly less in stocks and hold more negative views on capital markets. Effects vary by personal experience under communism. Results are strongest for individuals remembering life in the German Democratic Republic positively, e. g., because of local Olympic champions or living in a "showcase city". Results reverse for those with negative experiences like religious oppression, environmental pollution, or lack of Western TV entertainment.
Schlagwörter: 
Capital markets
Anti-capitalist Ideology
Life-time Experiences
Stockmarket Participation
JEL: 
D14
D83
D91
G41
P10
P26
P34
P36
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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