Trust and Saving in Financial Institutions by the Poor

Sebastian Galiani, Paul Gertler and Camila Navajas-Ahumada

No 26809, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We randomly assigned beneficiaries of a conditional cash transfer program in Peru to attend a 3 hour training session designed to build their trust in financial institutions. We find that the intervention: (a) increased trust in banks, but had no effect on financial literacy, and (b) increased savings over a ten month period. The increase in savings represents a 1.4 percentage point increase in the savings rate out of the cash transfer deposits, and a 0.4 percentage point increase in the savings rate out of household income.

JEL-codes: O16 (search for similar items in EconPapers)
Date: 2020-02
New Economics Papers: this item is included in nep-fle, nep-lam and nep-soc
Note: DEV
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Citations: View citations in EconPapers (7)

Published as Sebastian Galiani & Paul Gertler & Camila Navajas-Ahumada, 2022. "Trust and saving in financial institutions by the poor," Journal of Development Economics, .

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