What can we learn about financial access from U.S. immigrants?
By: Una Okonkwo Osili, Anna Paulson
Contributors: Paulson, Anna L.; Federal Reserve Bank of Chicago. Research Department
Series: Working paper series -- WP-2006-25; Working paper series (Federal Reserve Bank of Chicago. Research Department : Online) -- WP-2006-25.
Publisher: Federal Reserve Bank of Chicago
Published: 2006
Place of publication: Chicago, Ill.]
Language: eng
Format: [electronic resource] /
Subjects: Immigrants; Personal Finance
Description: "We find that wealthier and more educated immigrants are more likely to make use of basic banking services and other formal financial services.  Holding these (and other) factors constant, we find immigrants from countries with more effective institutions are more likely to have a relationship with a bank and use formal financial markets more extensively.  Institutional quality appears to be an important factor in both determining both the breadth and the depth of financial access.  It can explain approximately 17 percent of the country-of- origin-level variation in bank account usage among immigrants in the U.S., after other characteristics, including wealth, education and income, are controlled for.  Institutional quality is even more important for explaining more extensive participation in financial markets, accounting for 27 percent of the analogous variation.  We examine various measures of institutional effectiveness and are careful to control for unobserved individual characteristics, including specifications with country fixed-effects"--Federal Reserve Bank of Chicago web site.
Notes: Title from PDF file as viewed on 1/18/2007.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.