ARE THERE CULTURAL-EFFECTS ON SAVING - SOME CROSS-SECTIONAL EVIDENCE

Why are there such large differences in saving rates across countries? Conventional economic analyses have not been successful in explaining international saving differences, so economists have sometimes sugges ted that national saving differences may be explained by cultural diff erences. This paper tests the hypothesis that cultural factors influen ce saving by comparing saving patterns of immigrants to Canada from di fferent cultures. Using data from the Canadian Survey of Family Expend itures, we find no evidence of cultural effects on saving.