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The cultural origin of saving behavior

Costa-Font, Joan, Giuliano, Paola and Özcan, Berkay (2018) The cultural origin of saving behavior. PLOS ONE, 13 (9). e0202290. ISSN 1932-6203

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Identification Number: 10.1371/journal.pone.0202290

Abstract

Traditional economic interpretations have not been successful in explaining differences in saving rates across countries. One hypothesis is that savings respond to cultural specific social norms. The accepted view in economics so far is that culture does not have any effect on savings. We revisit this evidence using a novel dataset, which allows us to study the saving behavior of up to three generations of immigrants in the United Kingdom. Against the backdrop of existing evidence, we find that cultural preferences are an important explanation for cross-country differences in saving behavior, and their relevance persists up to three generations.

Item Type: Article
Official URL: https://journals.plos.org/plosone/
Additional Information: © 2018 The Authors © CC BY 4.0
Divisions: Social Policy
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HT Communities. Classes. Races
Sets: Departments > Social Policy
Date Deposited: 14 Sep 2018 13:25
Last Modified: 20 Feb 2019 06:53
Funders: LSE STICERD Center
URI: http://eprints.lse.ac.uk/id/eprint/90225

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