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Race, Family Structure, and Wealth: The Effect of Childhood Family on Adult Asset Ownership

Publication ,  Journal Article
Keister, LA
Published in: Sociological Perspectives
January 1, 2004

Racial differences in wealth ownership are among the most extreme and persistent forms of stratification in the United States, but the factors that contribute to this inequality are unclear. One potentially important contributing factor is family background. It is a critical determinant of attainment, and both childhood family resources and family structure vary racially. This article reports that family size during childhood contributes significantly to racial differences in adult wealth. I find that siblings strain material and nonmaterial resources during childhood and decrease adult home ownership, stock ownership, and total assets. Having extended family in the home also decreases wealth for those from intact families, but an extended family minimizes the negative effect of divorce and separation and increases wealth in disrupted families. I also find that childhood family size and family structure are related to racial differences in adult wealth accumulation trajectories, allowing whites to begin accumulating high-yield assets earlier in life. The results provide insight into the role of family background in creating and maintaining inequality, particularly racial stratification in wealth ownership. © 2004, Pacific Sociological Association. All rights reserved.

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Published In

Sociological Perspectives

DOI

ISSN

0731-1214

Publication Date

January 1, 2004

Volume

47

Issue

2

Start / End Page

161 / 187

Related Subject Headings

  • Sociology
  • 4410 Sociology
  • 1608 Sociology
 

Citation

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Keister, L. A. (2004). Race, Family Structure, and Wealth: The Effect of Childhood Family on Adult Asset Ownership. Sociological Perspectives, 47(2), 161–187. https://doi.org/10.1525/sop.2004.47.2.161
Keister, L. A. “Race, Family Structure, and Wealth: The Effect of Childhood Family on Adult Asset Ownership.” Sociological Perspectives 47, no. 2 (January 1, 2004): 161–87. https://doi.org/10.1525/sop.2004.47.2.161.
Keister LA. Race, Family Structure, and Wealth: The Effect of Childhood Family on Adult Asset Ownership. Sociological Perspectives. 2004 Jan 1;47(2):161–87.
Keister, L. A. “Race, Family Structure, and Wealth: The Effect of Childhood Family on Adult Asset Ownership.” Sociological Perspectives, vol. 47, no. 2, Jan. 2004, pp. 161–87. Scopus, doi:10.1525/sop.2004.47.2.161.
Keister LA. Race, Family Structure, and Wealth: The Effect of Childhood Family on Adult Asset Ownership. Sociological Perspectives. 2004 Jan 1;47(2):161–187.
Journal cover image

Published In

Sociological Perspectives

DOI

ISSN

0731-1214

Publication Date

January 1, 2004

Volume

47

Issue

2

Start / End Page

161 / 187

Related Subject Headings

  • Sociology
  • 4410 Sociology
  • 1608 Sociology