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| Belton, Willie; Uwaifo Oyelere, Ruth. |
| It has been well documented in the literature that ethnicity matters significantly in the determination of savings. In particular, African-American savings lag far behind that of other ethnic groups. Similarly, the literature also provides evidence of the long-lived nature of institutions and the link between institutions and culture. In this paper, we provide an explanation for the savings gap that still exists between African-Americans and White Americans even after accounting for appropriate factors that can lead to savings differentials. We initially provide evidence that the savings gap exists and persist after including several control variables in a regression analysis. We then provide evidence that the persistent gap can not be attributed solely... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Savings gap; Institutions; Race; Culture; Institutional and Behavioral Economics; Political Economy; D14; D31; J15; J78; N30. |
| Ano: 2008 |
URL: http://purl.umn.edu/37089 |
