Immigrants’ Access to Financial Services and Asset Accumulation**The views presented here are our own and not necessarily those of the Federal Reserve Bank of Chicago. Correspondence to: Anna Paulson, Federal Reserve Bank of Chicago, 230S. LaSalle Street, Chicago, IL 60604, USA (anna.paulson@chi.frb.org).

Recently, the homeownership rate of immigrants in Germany has increased by more than 20 percentage points. To shed light on this sharp rise, this paper investigates the driving forces of the trend in the homeownership rate of immigrant households in Germany between 1996 to 2005 and 2001 to 2011 using a probit-based non-linear decomposition method. Empirical findings suggest that 50 % of the change in immigrants’ homeownership rate within the first time period can be explained by characteristics such as age and educational attainment. In the second time period, the explanatory power of characteristics is almost zero, indicating that it is rather the favorable economic and institutional environment as well as changes in immigrants’ tenure choice process that contributed to the substantial increase in immigrants’ homeownership rate in Germany. We additionally find that housing quality of immigrant homeowners has slightly improved as well, but that there is still a substantial nativity gap in housing quality among tenants as well as among owners.

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Unveiling individuals’ financial behavior patterns: The Polish-Ukrainian case study in the pre-war period

Polishchuk,

Maiurchenko,

Tereshchenko

et al. 2023

Investment Management and Financial Innovations

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The study investigates the financial behavior of Ukrainians residing in Ukraine and Poland, aiming to identify patterns for the development of customized financial literacy programs. Additionally, it assesses Ukrainians’ preparedness, within their behavioral patterns, for global crises leading to financial shocks. During January-February 2022, a survey method was used to collect data from randomly chosen two groups of representatives of Ukrainians in Poland (N1 = 280) and Ukraine (N2 = 341). Data were proceeded with SPSS. Common patterns were revealed for both Ukraine and Poland, which are based on traditions and personal beliefs: disciplined cash flows controlling of personal budget and forming reserves for different types of crises; concentration on short-term plans and avoiding long-term ones; lack of trust to financial institutions for saving money. Among distinguished patterns are the following: In Poland, Ukrainians are more responsible and attentive to consumer loans, regularly receive and pay bills. In Poland, the investment portfolio of Ukrainians has a more diverse set of instruments. Online financial services are preferable in Poland. The study helps to identify if financially Ukrainians were ready to resist the russian war in Ukraine. Almost 30% of Ukrainians in Ukraine and 25% in Poland had only reserve for the period 1-3 months. In both countries, they claim they are ready to cover sources of covering unforeseen expenses from their reserves (more than 50% of respondents). AcknowledgmentsThe authors would like to express their gratitude to the Kirkland Scholarship Program, the Leaders of Change Foundation, the Polish American Freedom Foundation, the University of Wroclaw and personally to Marek Wróblewski, Professor at the University of Wroclaw, Associate of Ukrainian banks, and to those who helped to disseminate information about the survey, including the Foundation Ukraine, as well as to the respondents and all those who expressed interest in the results.

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Cited by 3 publications

References 72 publications

Sanctuary policies and the mortgage market behavior: Reducing uncertainty to promote financial inclusion

Sanctuary policies and the mortgage market behavior: Reducing uncertainty to promote financial inclusion

The Evolution of Immigrants’ Homeownership in Germany

Unveiling individuals’ financial behavior patterns: The Polish-Ukrainian case study in the pre-war period

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