Prospects for immigrant-native wealth assimilation: evidence from financial market participation
Una Osili and
Anna Paulson ()
No 951, Proceedings from Federal Reserve Bank of Chicago
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.
Keywords: Immigrants; Wealth; Financial markets (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
Published in Proceedings of a conference held in Washington, DC. (2005 : April 7-8) : a Federal Reserve System Community Affairs Reseach Conference; Promises & Pitfalls: as Consumer Finance Options Multiply, Who Is Being Served and at What Cost?
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Working Paper: Prospects for immigrant-native wealth assimilation: evidence from financial market participation (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:fip:fedhpr:951
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in Proceedings from Federal Reserve Bank of Chicago Contact information at EDIRC.
Bibliographic data for series maintained by ().