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Journal of Family and Economic Issues

, Volume 32, Issue 4, pp 600–611 | Cite as

An Exploratory Study of Chinese Americans’ Debt Ownership

  • Rui Yao
  • Deanna L. Sharpe
  • Elizabeth E. Gorham
Original Paper

Abstract

Research concerning the financial well-being of Chinese American households is extremely limited. This article examines factors that affect the probability that Chinese American households will hold debt. Analysis of data from a survey of Chinese Americans in five Midwestern states in the U.S. indicated that 80.5% of the sample households held some type of debt. Factors associated with the probability that a Chinese American household would be a debtor included age, presence of children under 18, health, annual income, and amount of financial and non-financial assets.

Keywords

Chinese American Debt Financial well-being Race 

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Copyright information

© Springer Science+Business Media, LLC 2011

Authors and Affiliations

  • Rui Yao
    • 1
  • Deanna L. Sharpe
    • 2
  • Elizabeth E. Gorham
    • 3
  1. 1.Personal Financial Planning DepartmentUniversity of MissouriColumbiaUSA
  2. 2.Personal Financial Planning DepartmentUniversity of MissouriColumbiaUSA
  3. 3.Family Resource Management SpecialistSouth Dakota State University ExtensionBrookingsUSA

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