Black-White differences in saving behaviors

Authors

  • Patti J. Fisher Virginia Tech

DOI:

https://doi.org/10.61190/fsr.v19i1.4960

Keywords:

Racial differences, Household saving

Abstract

This study uses the 2007 Survey of Consumer Finances to empirically explore Black-White differences in saving behavior. The impact of the explanatory variables in the model is allowed to differ between Black and White households to understand Black-White differences in saving. The results indicate that Black-White differences in saving are explained by racial differences in the individual determinants of saving. not by race in and of itself. The individual variables that signifi­cantly differ for Black and White households in their effect on saving are receiving government assistance, feeling that credit use is bad, being turned down for credit in the past 5 years, and having a saving horizon of the next few years.

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Published

2010-03-30

Issue

Vol. 19 No. 1 (2010): FSR Spring 2010

Section

New Original Submission

License

Copyright (c) 2010 Academy of Financial Services

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How to Cite

Black-White differences in saving behaviors. (2010). Financial Services Review, 19(1), 1-16. https://doi.org/10.61190/fsr.v19i1.4960