Stock Market Sentiment and the Draining of China's Savings Deposits
Economics Letters, Forthcoming
Robert Day School of Economics and Finance Research Paper No. 2008-10
10 Pages Posted: 13 Oct 2008 Last revised: 22 Sep 2009
Abstract
This letter examines the importance of sentiment effects on asset allocation decisions in mainland China. While liquidity matters too, we find that rising stock market sentiment exerted a statistically significant negative effect on Chinese time deposit growth during 2003-2007.
Keywords: China, savings deposits, share prices, sentiment, Shanghai
JEL Classification: O16, E41
Suggested Citation: Suggested Citation
Burdekin, Richard C. K. and Redfern, Luke, Stock Market Sentiment and the Draining of China's Savings Deposits. Economics Letters, Forthcoming, Robert Day School of Economics and Finance Research Paper No. 2008-10, Available at SSRN: https://ssrn.com/abstract=1282373
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