Trust and saving in financial institutions by the poor

Sebastian Galiani, Paul Gertler and Camila Navajas-Ahumada

Journal of Development Economics, 2022, vol. 159, issue C

Abstract: We randomly assigned beneficiaries of a conditional cash transfer program in Peru to attend a 3 h 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.

Keywords: Trust; Savings; Poverty (search for similar items in EconPapers)
JEL-codes: D14 G20 I30 (search for similar items in EconPapers)
Date: 2022
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Related works:
Working Paper: Trust and Saving in Financial Institutions by the Poor (2022)
Working Paper: Trust and Saving in Financial Institutions by the Poor (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:deveco:v:159:y:2022:i:c:s0304387822001237

DOI: 10.1016/j.jdeveco.2022.102981

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