ROSCAs, asset ownership, immigrants, refugees, structured savings, rotating savings, credit associations


Rotating Savings and Credit Associations (ROSCAs) are commonly practiced in developing countries across the globe. The practice is also common among immigrants in developed economies. This study uses survey data collected from African immigrants in the United States to examine whether saving in ROSCAs is associated with asset ownership among the participants. The results found that after receiving the ROSCAs savings, asset ownership among participants increased. Home ownership increased by 13.6%, small businesses increased by 27.2% (including taxi and commercial trucks) and car ownership increased by almost 20%. In conclusion, ROSCA participation increased asset ownership.

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