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dc.contributor.authorBelton, Willieen_US
dc.contributor.authorOyelere, Ruth Uwaifoen_US
dc.date.accessioned2008-07-30en_US
dc.date.accessioned2010-07-07T11:32:48Z-
dc.date.available2010-07-07T11:32:48Z-
dc.date.issued2008en_US
dc.identifier.piurn:nbn:de:101:1-20080619213en_US
dc.identifier.urihttp://hdl.handle.net/10419/35034-
dc.description.abstractIt has been well documented in the literature that ethnicity matters significantly in the determination of savings. In particular, African-American savings lag far behind savings for 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 to racial discrimination but can be explained by the response of culture to institutional scaffolding erected many years earlier. Using a novel within race decomposition we provide evidence that past institutions transmitted through culture can help to explain this persistent saving disparity.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 3545en_US
dc.subject.jelD14en_US
dc.subject.ddc300en_US
dc.subject.keywordSavings gapen_US
dc.subject.keywordinstitutionsen_US
dc.subject.keywordraceen_US
dc.subject.keywordcultureen_US
dc.subject.stwSparenen_US
dc.subject.stwEthnische Gruppeen_US
dc.subject.stwWirtschaftsethnologieen_US
dc.subject.stwSchwarzeen_US
dc.subject.stwEthnische Diskriminierungen_US
dc.subject.stwInstitutionalismusen_US
dc.subject.stwUSAen_US
dc.titleThe racial saving gap enigma: unraveling the role of institutionsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn571194400en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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