IDEAS home Printed from https://ideas.repec.org/p/fip/fedhpr/951.html

Prospects for immigrant-native wealth assimilation: evidence from financial market participation

Author

Abstract

Because financial transactions are important for wealth accumulation, and rely on trust and confidence in institutions, the financial market behavior of immigrants can provide important insights into the assimilation process. Compared to the native-born, immigrants are less likely to own savings and checking accounts and these differences tend to persist over time. Our results suggest that a large share of the immigrant-native gap in financial market participation is driven by group differences in education, income, and geographic location. For a given immigrant, the likelihood of financial market participation decreases with higher levels of ethnic concentration in the metropolitan area.

Suggested Citation

  • Una Okonkwo Osili & Anna L. Paulson, 2005. "Prospects for immigrant-native wealth assimilation: evidence from financial market participation," Proceedings 951, Federal Reserve Bank of Chicago.
    • Handle: RePEc:fip:fedhpr:951
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. is not listed on IDEAS
    2. Kristin F. Butcher & Anne Morrison Piehl, 2005. "Why are immigrants' incarceration rates so low? evidence on selective immigration, deterrence, and deportation," Working Paper Series WP-05-19, Federal Reserve Bank of Chicago.
    3. Irene Ferrari, 2020. "The nativity wealth gap in Europe: a matching approach," Journal of Population Economics, Springer;European Society for Population Economics, vol. 33(1), pages 33-77, January.
    4. Deborah A. Cobb‐Clark & Vincent A. Hildebrand, 2006. "The Portfolio Choices of Hispanic Couples," Social Science Quarterly, Southwestern Social Science Association, vol. 87(5), pages 1344-1363, December.
    5. Raúl Hernández-Coss & Chinyere Egwuagu Bun, 2007. "The UK-Nigeria Remittance Corridor : Challenges of Embracing Formal Transfer Systems in a Dual Financial Environment," World Bank Publications - Books, The World Bank Group, number 6654, April.
    6. Anneke Kosse & David-Jan Jansen, 2011. "Choosing how to pay: the influence of home country habits," DNB Working Papers 328, Netherlands Central Bank, Research Department.
    7. Deborah A. Cobb‐Clark & Vincent A. Hildebrand, 2006. "The Portfolio Choices of Hispanic Couples," Social Science Quarterly, Southwestern Social Science Association, vol. 87(5), pages 1344-1363, December.
    8. Valentina Duque & Natasha V Pilkauskas & Irwin Garfinkel, 2018. "Assets among low-income families in the Great Recession," PLOS ONE, Public Library of Science, vol. 13(2), pages 1-21, February.
    9. Deborah A. Cobb-Clark & Vincent A. Hildebrand, 2008. "The Asset Portfolios of Native-born and Foreign-born Households," CEPR Discussion Papers 567, Centre for Economic Policy Research, Research School of Economics, Australian National University.
    10. Thomas K. Bauer & Deborah A. Cobb‐Clark & Vincent A. Hildebrand & Mathias G. Sinning, 2011. "A Comparative Analysis Of The Nativity Wealth Gap," Economic Inquiry, Western Economic Association International, vol. 49(4), pages 989-1007, October.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedhpr:951. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lauren Wiese (email available below). General contact details of provider: https://edirc.repec.org/data/frbchus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.