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Cultural Connection Predicts Perceptions of Financial Security for Māori

Author

Listed:
  • Carla A. Houkamau

    (The University of Auckland)

  • Chris G. Sibley

    (The University of Auckland)

Abstract

This paper examines the relationships between cultural efficacy, retirement savings, and perceptions of future financial security among New Zealand Māori. Analyses were based on a national probability sample of 563 Māori (355 women, 208 men) who participated in the New Zealand Attitudes and Values Study. Results showed that Māori with a higher level of cultural efficacy were less likely to be enrolled in KiwiSaver (a State sponsored savings initiative designed to encourage New Zealanders to save for their retirement). At the same time cultural efficacy was linked to an increased positive expectation of future financial security. We propose that this demonstrates resilience of collectivist cultural values among some Māori despite a history of British colonisation. It is proposed that the Māori world view remains holistic, and understandings of economic well-being for Māori need to be expanded to recognise these cultural orientations. The role of Māori identity for economic behaviour is discussed.

Suggested Citation

  • Carla A. Houkamau & Chris G. Sibley, 2017. "Cultural Connection Predicts Perceptions of Financial Security for Māori," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 133(1), pages 395-412, August.
    • Handle: RePEc:spr:soinre:v:133:y:2017:i:1:d:10.1007_s11205-016-1367-5
    DOI: 10.1007/s11205-016-1367-5
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    References listed on IDEAS

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    1. George A. Akerlof & Rachel E. Kranton, 2000. "Economics and Identity," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(3), pages 715-753.
    2. Mitchell, E. A. & Stewart, A. W. & Crampton, P. & Salmond, Clare, 2000. "Deprivation and sudden infant death syndrome," Social Science & Medicine, Elsevier, vol. 51(1), pages 147-150, July.
    3. John Gibson & Chris Hector & Trinh Le, 2008. "The Distributional Impact of KiwiSaver Incentives," Working Papers in Economics 08/02, University of Waikato.
    4. Carla Houkamau & Chris Sibley, 2015. "The Revised Multidimensional Model of Māori Identity and Cultural Engagement (MMM-ICE2)," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 122(1), pages 279-296, May.
    5. George Akerlof, 1976. "The Economics of Caste and of the Rat Race and Other Woeful Tales," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 90(4), pages 599-617.
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