Wealth Inequality in Black and White: Cultural and Structural Sources of the Racial Wealth Gap

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• 作者：Cedric Herring ; Loren Henderson
• 关键词：Racial inequality ; Wealth inequality ; Racial wealth gap ; Net worth and race
• 刊名：Race and Social Problems
• 出版年：2016
• 出版时间：March 2016
• 年：2016
• 卷：8
• 期：1
• 页码：4-17
• 全文大小：1,082 KB
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• 作者单位：Cedric Herring (1)
  Loren Henderson (1)
  
  1. University of Maryland, Baltimore County, Baltimore, MD, USA
  
• 刊物主题：Social Work; Personality and Social Psychology;
• 出版者：Springer US
• ISSN：1867-1756

文摘

Using data from the 2013 Survey of Consumer Finances, this research examines competing and complementary cultural and structural explanations of the sources of racial differences in wealth. We use OLS regression and quantile regression to identify the major individual-level sources of wealth differences between African Americans and whites. Whites have more favorable wealth characteristics than do African Americans on all of the variables in the analysis: gender of household head, bankruptcies, spending patterns, stock ownership, business ownership, home ownership, inheritance, educational attainment, income, occupation, age, and number of children. Cultural factors, having a female-headed family, spending patterns, and inheritance account for little of the racial wealth gap. Racial differences in income, stock ownership, and business ownership account for much of the explained racial wealth gap. Moreover, compared with whites, African Americans receive significantly lower wealth returns to education, age, income, stock ownership, and business ownership. We discuss the implications of our findings.