Ethnic Differences in Financial Outcomes Among Low-Income Older Asian Immigrants: A Financial Capability Perspective |
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| Authors: | Yunju Nam Jin Huang Eun Jeong Lee |
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| Institution: | 1. School of Social Work, University at Buffalo, the State University of New York, Buffalo, NYyunjunam@buffalo.edu;3. School of Social Work, College for Public Health and Social Justice, Saint Louis University, St. Louis, MO;4. National Asian Pacific Center on Aging, Seattle, WA |
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| Abstract: | ABSTRACTThis exploratory study examined ethnic differences in financial outcomes among low-income older Asian immigrants from a financial capability perspective. We used survey data collected from a convenience sample of Chinese, Korean, and “Other Asian” ethnic participants in a subsidized employment program (n = 159). We ran logit regressions of dichotomous financial outcomes. Regression analysis showed significant ethnic differences in some financial outcomes after controlling for financial capability and other factors. Findings did not support our hypothesis that financial capability explains ethnic differences in financial outcomes. Findings suggest the need to develop culturally suitable financial capability measures for future research. |
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| Keywords: | Asians elderly ethnicity financial knowledge financial management immigration saving wealth |
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