Does Cultural Origin Affect Saving Behavior? Evidence from Immigrants
Because 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.
|Date of creation:||May 1998|
|Date of revision:|
|Publication status:||published as Economic Development and Cultural Change, Vol. 48, no. 1 (1999): 33-50.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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- David E. Bloom & Morley Gunderson, 1989.
"An Analysis of the Earnings of Canadian Immigrants,"
NBER Working Papers
3035, National Bureau of Economic Research, Inc.
- David E. Bloom & Morley Gunderson, 1991. "An Analysis of the Earnings of Canadian Immigrants," NBER Chapters, in: Immigration, Trade, and the Labor Market, pages 321-342 National Bureau of Economic Research, Inc.
- Christopher D. Carroll, 1994. "How does Future Income Affect Current Consumption?," The Quarterly Journal of Economics, Oxford University Press, vol. 109(1), pages 111-147.
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