Plausibly Exogenous [1906] - Margin Lending (04/22/2025)

LHS Variable
Stock price

RHS Variable
Margin lending

Source of Exogenous Variation
Between 2010 and 2015, Chinese regulators gradually began to allow margin lending for specific stocks listed on the Shanghai and Shenzhen stock exchanges.

- Hansman, Hong, Jiang, Liu, and Meng (2025), “Effects of Credit Expansions on Stock Market Booms and Busts”