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Financial Wellbeing of Asian Americans

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Handbook of Consumer Finance Research

Abstract

The Asian American population in the USA has been increasing. Research on the economic wellbeing of this minority group is far from being adequate. It is generally found that Asian Americans are more highly educated and have more wealth. Although the homeownership rate of this population is lower than the national average rate, the gap is gradually narrowing. Asian Americans are found to have more confidence in their financial future and have better management in their financial lives. In addition, Asian-owned businesses have been an important part of the US economy and, as such, the self-employment status of Asian Americans has stimulated great interest for research. Large differences in financial behaviors exist among different groups in Asian Americans. This chapter serves the purpose to summarize past research on Asian American consumer finances and provide directions for future research.

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Authors and Affiliations

  1. Department of Personal Financial Planning, University of Missouri, 239 Stanley Hall, Columbia, MO, 65211, USA

    Rui Yao Ph.D.

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  1. Rui Yao Ph.D.
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Correspondence to Rui Yao Ph.D. .

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Editors and Affiliations

  1. Univ of Rhode Island, Transition Center, Department of Human Development and Family Studies,, Kingston, Rhode Island, USA

    Jing Jian Xiao

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Yao, R. (2016). Financial Wellbeing of Asian Americans. In: Xiao, J. (eds) Handbook of Consumer Finance Research. Springer, Cham. https://doi.org/10.1007/978-3-319-28887-1_19

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