EconPapers    
Economics at your fingertips  
 

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

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.

Keywords: Immigrants; Wealth; Financial markets (search for similar items in EconPapers)
Date: 2005
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.

Related works:
Working Paper: Prospects for immigrant-native wealth assimilation: evidence from financial market participation (2004) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

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 ().

 
Page updated 2021-03-01
Handle: RePEc:fip:fedhpr:951