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Accumulation of Property by Southern Blacks Before World War I: Commentand Further Evidence

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Robert A. Margo

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Abstract

The pace and pattern of wealth accumulation by Southern blacks in the period before World War I is of central importance to the historical evolution of black/white income differences. This paper extends recent work by Robert Higgs, who used data on assessed wealth for Georgia to study the temporal and cross-sectional variation in black wealth accumulation during the post-bellum era. Using similar data for five additional states, I show that one of Higgs' principal conclusions -- measured by tax assessments, blacks accumulated wealth more rapidly than whites -- is a general finding, but that the cross-sectional determinants of black wealth appear to have varied markedly across states. Issues of assessment ratio bias are also considered, and using data for one state, I demonstrate that failure to account for intrastate and race differences in assessment ratios may bias the cross-sectional findings and significantly overstate the true relative (black/white) growth rate of black wealth.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 1200.

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Date of creation: Sep 1983
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Handle: RePEc:nbr:nberwo:1200

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  1. William J. Collins & Robert A. Margo, 1999. "Race and Home Ownership, 1900 to 1990," NBER Working Papers 7277, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. Robert A. Margo, 1988. "Schooling and the Great Migration," NBER Working Papers 2697, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Dora L. Costa, 2008. "The Rise of Retirement Among African Americans: Wealth and Social Security Effects," NBER Working Papers 14462, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. William J. Collins & Robert A. Margo, 2003. "Historical Perspectives on Racial Differences in Schooling in the United States," Working Papers 0313, Department of Economics, Vanderbilt University. [Downloadable!]
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  5. William J. Collins & Robert A. Margo, 2001. "Race and Home Ownership in Twentieth Century America: The Role of Sample Composition," Working Papers 0110, Department of Economics, Vanderbilt University. [Downloadable!]
  6. Robert A. Margo, 2004. "Ideology, Government, and the American Dilemma," Working Papers 0411, Department of Economics, Vanderbilt University, revised May 2004. [Downloadable!]
  7. William J. Collins & Robert A. Margo, 2000. "Race and the Value of Owner-Occupied Housing, 1940-1990," Working Papers 0025, Department of Economics, Vanderbilt University, revised Feb 2001. [Downloadable!]
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  8. Trevon D. Logan, 2008. "Health, Human Capital, and African American Migration Before 1910," NBER Working Papers 14037, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  9. William J.Collins & Robert A. Margo, 2000. "Race and Home Ownership: A Century-Long View," Working Papers 0012, Department of Economics, Vanderbilt University. [Downloadable!]
    Other versions:
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