Household Participation in Formal and Informal Savings Mechanisms: Evidence from Pakistan

Seth B. Carpenter and Robert T. Jensen

Review of Development Economics, 2002, vol. 6, issue 3, 314-328

Abstract: Savings are an important determinant of both individual and national wellbeing. Typically, households employ a wide range of mechanisms for saving, including both formal and informal institutions. The choice of savings instrument has important micro‐ and macroeconomic implications. However, little is known empirically about the patterns of use of these instruments, or the factors affecting household decisions/ abilities to use them. The authors apply household‐level data from a nationally representative survey for Pakistan to explore these issues in detail. In particular, they focus on the choice between banks and bisi, an informal saving committee similar in nature to a rotating‐savings‐and‐credit association.

Date: 2002
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