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Determinants of Formal and Informal Saving in Colombia

Ana Iregui (), Ligia Alba Melo-Becerra (), Maria Ramirez-Giraldo () and Ana Tribín ()
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Ligia Alba Melo-Becerra: Banco de la República de Colombia

Authors registered in the RePEc Author Service: Ligia Melo ()

Chapter 4 in Financial Decisions of Households and Financial Inclusion: Evidence for Latin America and the Caribbean, 2018, pp 95-123 from Centro de Estudios Monetarios Latinoamericanos, CEMLA

Abstract: In this paper we perform an empirical study of the determinants of saving among middle- and low-income individuals living in urban and rural areas of Colombia. The results show that the likelihood of saving increases with education, income, labor market participation, and home ownership. The results also demonstrate that education and income increase the probability of saving in banks and decrease the likelihood of informal saving in both urban and rural areas.

Keywords: formal saving; informal saving; urban area; rural area; Colombia. (search for similar items in EconPapers)
Date: 2018
ISBN: 978-607-8582-00-6 (online)
Note: Joint Research Program of the Central Bank Researchers Network
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Persistent link: https://EconPapers.repec.org/RePEc:cml:incocp:7en-04

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