Access to Formal Banking and Household Finances: Experimental Evidence from India
Vincent Somville and
Lore Vandewalle ()
No 1, CMI Working Papers from CMI (Chr. Michelsen Institute), Bergen, Norway
Access to formal banking is spreading across the world. Obtaining a bank account may transform how people manage their finances, and affect their savings and consumption. We report from a field experiment that randomly provides access to a bank account to a representative sample of villagers in rural India. The treated keep relatively important savings on their account, but reduce their other savings by a similar amount. Their household’s overall savings and expenditures do not change. We identify several barriers that may constraint total savings.
Keywords: banking; bank; accounts; villages; rural; savings (search for similar items in EconPapers)
Pages: 28 pages
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Persistent link: https://EconPapers.repec.org/RePEc:chm:wpaper:wp2017-1
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