Title:
THE OVERLAPPING BETWEEN RACE AND IMMIGRANTS IN THE UNITED STATES: ANALYZING THE FINANCIAL WELL-BEING FROM A MORE COMPREHENSIVE WAY

Authors:
Hu Yuantian, China

Abstract:
This study mainly tests how immigrant identification and race/ethnicity groups affect the household’s financial well-being. Previous studies usually concentrate on one aspect of financial wellbeing. However, this research analyzes the financial well-being of household from three as-pects – wealth attainment, financial market participation, and the wealth accumulation. Using panel data from 2014 Survey of Income and Program Participation (SIPP), this study conducted the Ordinary Least Square (OLS) regression modeling and the Fixed Effect regression modeling to an-alyze both the cross-sectional and the longitudinal data. The study finds that Asian Americans have better financial well-being outcome than the other race/ethnicity groups. Longitudinally, age of the household reference person and the time it has stayed in the U.S. are significantly and positively related to the financial well-being outcome. Additionally, English proficiency, employment status, high school diploma, household type, and the number of children are all significantly related to the financial well-being outcomes.