Full Citation

Title: Women's Liberation as a Financial Innovation

Citation Type: Journal Article

Publication Year: 2019

ISBN:

ISSN:

DOI: DOI: 10.1111/jofi.12829

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Abstract: In one of the greatest extensions of property rights in human history, common law countries began giving rights to married women in the 1850s. Before this “women's liberation,” the doctrine of coverture strongly incentivized parents of daughters to hold real estate, rather than financial assets such as money, stocks, or bonds. We exploit the staggered nature of coverture's demise across U.S. states to show that women's rights led to shifts in household portfolios, a positive shock to the supply of credit, and a reallocation of labor toward nonagriculture and capital‐intensive industries. Investor protection thus deepened financial markets, aiding industrialization.

Url: https://onlinelibrary.wiley.com/doi/full/10.1111/jofi.12829

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Authors: Hazan, Moshe; Weiss, David; Zoabi, Hosny

Periodical (Full): Journal of Finance

Issue: 6

Volume: 74

Pages: 2915-2956

Data Collections: IPUMS USA

Topics: Gender, Labor Force and Occupational Structure

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