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What Explains the Wealth Gap Between Immigrants and the New Zealand Born?

Author

Listed:
  • Gibson, John
  • Le, Trinh
  • Stillman, Steven

Abstract

Immigrants are typically found to have less wealth and hold it in different forms than the native born. These differences may affect both the economic assimilation of immigrants and overall portfolio allocation when immigrants are a large share of the population, as in New Zealand. In this paper, data from the 2001 Household Savings Survey are used to examine wealth differences between immigrants and the New Zealand-born. Differences in the allocation of portfolios between housing and other forms of wealth are described. Unconditional and conditional wealth quantiles are examined using parametric models. Semiparametric methods are used to decompose differences in net worth at different parts of the wealth distribution into the part due to differences in characteristics and the part due to differences in the returns to characteristics.

Suggested Citation

  • Gibson, John & Le, Trinh & Stillman, Steven, 2007. "What Explains the Wealth Gap Between Immigrants and the New Zealand Born?," Motu Working Papers 292830, Motu Economic and Public Policy Research.
    • Handle: RePEc:ags:motuwp:292830
    DOI: 10.22004/ag.econ.292830
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    Cited by:

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    2. Deborah A. Cobb‐Clark & Vincent A. Hildebrand, 2009. "The Asset Portfolios of Native‐born and Foreign‐born Australian Households," The Economic Record, The Economic Society of Australia, vol. 85(268), pages 46-59, March.
    3. Hannah Zillessen, 2022. "Uncertainty, Citizenship & Migrant Saving Choices," Economics Series Working Papers 1008, University of Oxford, Department of Economics.
    4. Mathä, Thomas Y. & Porpiglia, Alessandro & Sierminska, Eva, 2011. "The immigrant/native wealth gap in Germany, Italy and Luxembourg," Working Paper Series 1302, European Central Bank.
    5. Eva M. Sierminska & Joachim R. Frick & Markus M. Grabka, 2010. "Examining the gender wealth gap," Oxford Economic Papers, Oxford University Press, vol. 62(4), pages 669-690, October.
    6. Sinning, Mathias, 2007. "Wealth and Asset Holdings of Immigrants in Germany," IZA Discussion Papers 3089, Institute of Labor Economics (IZA).
    7. Esenaliev, Damir & Steiner, Susan, 2014. "Ethnicity and the distribution of welfare: Evidence from southern Kyrgyzstan," Journal of Comparative Economics, Elsevier, vol. 42(4), pages 970-982.
    8. Denise Doiron & Rochelle Guttmann, 2009. "Wealth Distributions of Migrant and Australian‐born Households," The Economic Record, The Economic Society of Australia, vol. 85(268), pages 32-45, March.
    9. Sierminska, Eva & Frick, Joachim R. & Grabka, Markus M., 2008. "Examining the Gender Wealth Gap in Germany," IZA Discussion Papers 3573, Institute of Labor Economics (IZA).
    10. Mathias Sinning, 2007. "Wealth and Asset Holdings of Immigrants in Germany," Ruhr Economic Papers 0030, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    11. Mattias Muckenhuber & Miriam Rehm & Matthias Schnetzer, 2022. "A Tale of Integration? The Migrant Wealth Gap in Austria," European Journal of Population, Springer;European Association for Population Studies, vol. 38(2), pages 163-190, May.
    12. Rob Hodgson & Jacques Poot, 2011. "New Zealand Research on the Economic Impacts of Immigration 2005-2010: Synthesis and Research Agenda," RFBerlin Discussion Paper Series 1104, ROCKWOOL Foundation Berlin (RFBerlin).
    13. Muckenhuber, Mattias & Rehm, Miriam & Schnetzer, Matthias, 2021. "The migrant wealth gap at the household level: Evidence from RIF regressions for Austria," ifso working paper series 15, University of Duisburg-Essen, Institute for Socioeconomics (ifso).
    14. Deborah Cobb-Clark, 2007. "Pushing the boundaries of immigration research: What can we learn from New Zealand?," New Zealand Economic Papers, Taylor & Francis Journals, vol. 41(2), pages 123-130.
    15. Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2008. "The Asset Portfolios of Native-Born and Foreign-Born Households," IZA Discussion Papers 3304, Institute of Labor Economics (IZA).

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    Keywords

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    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination

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