Cultural Events and Savings Essay
Cultural Events and Savings
The article “Cultural Events and Differences: Evidence from Immigrants to the United Arab Emirates” is catches attention, because it provides through examination of main reasons of immigration and touches the living conditions and experience of being an immigrant. It is known that the potential of UAE is growing and thus the country has to be studied and its policy should be evaluated.
Furthermore, the article is interesting, because it examines impact o foreign region ob immigrant’s behavioral patterns and provides examples from different countries. Actually, the article raises debates whether immigrants should adapt to foreign culture or to preserve their culture. Moreover, the strength of the article is that is investigates the nature of savings.
Certainly, this article contains lots of new interesting and relevant material for contemporary world, because public is interested in what is going on in Arab world. It is interesting to know, for example, that immigrants from developing countries tend to be more uniform regarding education, age, household and occupation, though they are provided with lower income than that of Arab countries. Nevertheless, the differences in national savings haven’t been investigated yet.
The authors of the article suggest that UAE completely depends on immigrant workers. Apparently, cultural factors have strong impact on governmental policies, partly because they tend to influence saving behavior in the long run in the countries which are considered ethnically diverse. Nevertheless, cultural factors play rather important, though not dominant role in determining differences in household savings. The authors provide several conclusions: the level of per capital income and growth income influences the ability to save; interest rates and inflation rates appear to be insignificant.
The article refers to “Legal, Technological and Political Force” as it examines the impact of cultural differences on the governmental policy within UAE. The article provides information regarding political and economic forces caused the increase of immigration.
Al-Wad, M. & Elhiraika, A. (2003, July). Cultural Events and Differences: Evidence from Immigrants to the United Arab Emirates. The Journal of Development Studies, 39, 5, 139-151.