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Does Cultural Origin Affect Saving Behavior? Evidence from Immigrants

  • Christopher D. Carroll
  • Byung-Kun Rhee
  • Changyong Rhee

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.

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File URL: http://www.nber.org/papers/w6568.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6568.

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Date of creation: May 1998
Date of revision:
Publication status: published as Economic Development and Cultural Change, Vol. 48, no. 1 (1999): 33-50.
Handle: RePEc:nbr:nberwo:6568
Note: ME
Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Phone: 617-868-3900
Web page: http://www.nber.org
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  1. Bloom, D.E. & Gunderson, M., 1989. "An Analysis Of The Earnings Of Canadian Immigrants," Discussion Papers 1989_18, Columbia University, Department of Economics.
  2. 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.
  3. Carroll, Christopher D, 1994. "How Does Future Income Affect Current Consumption?," The Quarterly Journal of Economics, MIT Press, vol. 109(1), pages 111-47, February.
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