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Stockholding in France

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  • Luc Arrondel
  • André Masson

Abstract

In France like in other European countries, the past fifteen years has been a time of drastic financial markets developments due mainly to greater international integration and coordination (in response to European Union directives), financial liberalization (in particular the privatization of public services), and product innovation (especially the rise of retirement accounts –PEP- and life insurance). One of the most striking results has been the quick adjustment of households' behaviors to this new financial context, especially through the increasing share of stocks in portfolios and the diffusion of retirement accounts. In the middle of the eighties, only some 7 percent of French households own stocks directly to compare with around 17 percent of stockholders in 2000. For life insurance and retirement accounts, the rate of ownership has gone up, over the same period, from around 30 percent to around 47 percent of households. In this paper, we study portfolio choice decisions of French households concerning stockholding.

Suggested Citation

  • Luc Arrondel & André Masson, 2002. "Stockholding in France," DELTA Working Papers 2002-09, DELTA (Ecole normale supérieure).
    • Handle: RePEc:del:abcdef:2002-09
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    File URL: http://www.delta.ens.fr/abstracts/wp200209.pdf
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    Cited by:

    1. Andrzej Cwynar & Wiktor Cwynar & Monika Baryła-Matejczuk & Moises Betancort, 2019. "Sustainable Debt Behaviour and Well-Being of Young Adults: The Role of Parental Financial Socialisation Process," Sustainability, MDPI, vol. 11(24), pages 1-26, December.
    2. Alexis Direr & Eric Yayi, 2014. "Les choix de portefeuille des épargnants sur le cycle boursier et le cycle de vie," Économie et Statistique, Programme National Persée, vol. 472(1), pages 125-152.
    3. Luc Arrondel, 2013. "Are “daddy’s boys” just as rich as daddy? The transmission of values between generations," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 11(4), pages 439-471, December.
    4. Arrondel, L. & Savignac, F., 2009. "Stockholding: Does housing wealth matter?," Working papers 266, Banque de France.
    5. Arrondel, Luc & Calvo-Pardo, Hector, 2014. "Endogenous non-tradable earnings and households’ demand for risky assets," Discussion Paper Series In Economics And Econometrics 1414, Economics Division, School of Social Sciences, University of Southampton.

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