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Wealth and Asset Holdings of Immigrants in Germany

  • Mathias Sinning

    ()

This paper examines the relative wealth position and the portfolio choices of immigrants in Germany. The empirical findings reveal significant differences in overall wealth and various wealth components between German natives and immigrants. Differences in real estate constitute the major part of different levels of net worth, indicating that disparities in home-ownership rates are responsible for the main part of the overall wealth gap. Moreover, migrants’ degree of portfolio diversification is significantly lower than that of comparable natives. The results of a decomposition analysis suggest that diffrences in wealth and asset holdings may be explained by disparity in educational attainment to a sizable extent, while the effects of income differentials and differences in demographic characteristics are insignificant.

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File URL: http://repec.rwi-essen.de/files/REP_07_030.pdf
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Paper provided by Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen in its series Ruhr Economic Papers with number 0030.

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Length: 36 pages
Date of creation: Oct 2007
Handle: RePEc:rwi:repape:0030
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  9. Robert Barsky & John Bound & Kerwin Charles & Joseph Lupton, 2001. "Accounting for the Black-White Wealth Gap: A Nonparametric Approach," NBER Working Papers 8466, National Bureau of Economic Research, Inc.
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  18. de Coulon, Augustin & Wolff, François-Charles, 2006. "The Location of Immigrants at Retirement: Stay/Return or ‘Va-et-Vient’?," IZA Discussion Papers 2224, Institute for the Study of Labor (IZA).
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  22. Dustmann, C, 1993. "Earnings Adjustment of Temporary Migrants," Journal of Population Economics, Springer;European Society for Population Economics, vol. 6(2), pages 153-68, May.
  23. Viral V. Acharya & Iftekhar Hasan & Anthony Saunders, 2002. "Should banks be diversified? evidence from individual bank portfolios," Proceedings 836, Federal Reserve Bank of Chicago.
  24. Shamsuddin, Abul F M & DeVoretz, Don J, 1998. "Wealth Accumulation of Canadian and Foreign-Born Households in Canada," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 44(4), pages 515-33, December.
  25. Maury Gittleman & Edward N. Wolff, 2004. "Racial Differences in Patterns of Wealth Accumulation," Journal of Human Resources, University of Wisconsin Press, vol. 39(1).
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