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Fear of Crime and Saving Behavior

Author

Listed:
  • Tristan A. Canare

    (Asian Institute of Management R.S. Navarro Policy Center for Competitiveness)

  • Jamil Paolo S. Francisco

    (Asian Institute of Management R.S. Navarro Policy Center for Competitiveness)

  • Edgardo Manuel Miguel M. Jopson

    (Asian Institute of Management R.S. Navarro Policy Center for Competitiveness)

Abstract

"Fear of crime, on top of crime victimization itself, is an important social concern because the literature suggests that it can affect behavior and decision-making. Some studies argue that negative emotions can induce present consumption; thus, one behavior that crime can potentially influence is saving. Applying Logit model and the Heckman Probit model to a household survey dataset of 1,200 respondents, this paper tested for the relationship between fear of crime and saving behavior. We found evidence that fear of crimes involving physical violence has a negative relationship with the likelihood of saving but has a positive relationship with the likelihood of saving through formal channels. Fear of crimes against property, on the other hand, shows no such relationship. Moreover, overall fear of crime in the immediate community has no relationship with saving, but fear of crime in the larger region where the individual lives has."

Suggested Citation

  • Tristan A. Canare & Jamil Paolo S. Francisco & Edgardo Manuel Miguel M. Jopson, 2019. "Fear of Crime and Saving Behavior," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 11(3), pages 293-323, November.
    • Handle: RePEc:ren:journl:v:11:y:2019:i:3:p:293-323
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    File URL: https://openjournals.uwaterloo.ca/index.php/rofea/article/view/1686/2038
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    More about this item

    Keywords

    fear; crime; saving; Heckman Probit model ;
    All these keywords.

    JEL classification:

    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

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