Does Cultural Origin Affect Saving Behavior? Evidence from Immigrants
AbstractBecause efforts to explain international saving differentials using traditional economic variables have not been very successful (Bosworth, 1993), some economists have proposed that national saving differences reflect cultural differences. We attempt to test that hypothesis by using data from the US Census to examine whether immigrants to the US from high-saving countries tend to save more than immigrants from low-saving countries. While we do find highly statistically significant differences in immigrants' saving behavior by country of origin, those differences do not match up with the differences in national saving rates. In particular, immigrants from high-saving Asian countries do not save more than other immigrants.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6568.
Date of creation: May 1998
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Publication status: published as Economic Development and Cultural Change, Vol. 48, no. 1 (1999): 33-50.
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Other versions of this item:
- Carroll, Christopher D & Rhee, Byung-Kun & Rhee, Changyong, 1999. "Does Cultural Origin Affect Saving Behavior? Evidence from Immigrants," Economic Development and Cultural Change, University of Chicago Press, University of Chicago Press, vol. 48(1), pages 33-50, October.
- Christopher D Carroll & Byung-Kun Rhee & Changyong Rhee, 1998. "Does Cultural Origin Affect Saving Behaviour? Evidence From Immigrants," Economics Working Paper Archive, The Johns Hopkins University,Department of Economics 401, The Johns Hopkins University,Department of Economics.
- D1 - Microeconomics - - Household Behavior
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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