Does Cultural Origin Affect Saving Behavior? Evidence from Immigrants

Christopher Carroll, Byung-Kun Rhee and Changyong Rhee

No 6568, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: D1 D8 (search for similar items in EconPapers)
Date: 1998-05
Note: ME
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Published as Economic Development and Cultural Change, Vol. 48, no. 1 (1999): 33-50.

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Working Paper: Does Cultural Origin Affect Saving Behaviour? Evidence From Immigrants (1998)
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