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Financial Behavior and Attitudes of Asians Compared to Other Racial/Ethnic Groups in the United States

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  • Sherman Hanna
  • Jonghee Lee
  • Suzanne Lindamood

Abstract

Most research studying family financial behavior of racial/ethnic groups has ignored Asian households or arbitrarily combined them with other racial/ethnic groups. We treated Asian households as a separate racial/ethnic group to compare twelve financial behaviors and attitudes of Asian households to those of three other racial/ethnic groups: White, Black and Hispanic. Using multivariate analyses with the 2010 Survey of Consumer Finances, we found differences in seven behaviors/attitudes between Asian households and each of the other three household types, although the differences were not consistent across groups except for a lower credit delinquency rate of Asian households. Our results suggest that Asian households should be analyzed as a separate group and should not be combined with other racial/ethnic groups for comparison purposes. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Sherman Hanna & Jonghee Lee & Suzanne Lindamood, 2015. "Financial Behavior and Attitudes of Asians Compared to Other Racial/Ethnic Groups in the United States," Journal of Family and Economic Issues, Springer, vol. 36(3), pages 309-318, September.
    • Handle: RePEc:kap:jfamec:v:36:y:2015:i:3:p:309-318
    DOI: 10.1007/s10834-015-9447-2
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    References listed on IDEAS

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    1. Jonghee Lee & Sherman D. Hanna, 2012. "Limitations of Combining Hispanics and African Americans for Analysis of Credit Problems," Journal of Consumer Affairs, Wiley Blackwell, vol. 46(3), pages 506-536, September.
    2. Angela Fontes, 2011. "Differences in the Likelihood of Ownership of Retirement Saving Assets by the Foreign and Native-Born," Journal of Family and Economic Issues, Springer, vol. 32(4), pages 612-624, December.
    3. Jinhee Kim & Swarn Chatterjee & Soo Cho, 2012. "Asset Ownership of New Asian Immigrants in the United States," Journal of Family and Economic Issues, Springer, vol. 33(2), pages 215-226, June.
    4. Deanna Sharpe & Mohamed Abdel-Ghany, 2006. "Determinants of Income Differentials: Comparing Asians with Whites and Blacks," Journal of Family and Economic Issues, Springer, vol. 27(4), pages 588-600, December.
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    Cited by:

    1. Sharon M. Danes & Antonio Alba Meraz & Ashley L. Landers, 2016. "Cultural Meanings of Resource Management for Mexican–Americans," Journal of Family and Economic Issues, Springer, vol. 37(4), pages 607-623, December.
    2. Roudi Nazarinia Roy & Anthony G. James & Tiffany L. Brown, 2021. "Racial/Ethnic Minority Families," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 84-100, July.
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    4. Jessie X. Fan & Hua Zan, 2019. "The “Model Minority” Myth: Asian American Middle Class Before, During, And After The Great Recession," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 64(01), pages 23-39, March.

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