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Does Mobile Money Affect Saving Behavior? Evidence from a Developing Country

Serge Ky (), Clovis Rugemintwari and Alain Sauviat ()
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Serge Ky: LAPE - Laboratoire d'Analyse et de Prospective Economique - IR SHS UNILIM - Institut Sciences de l'Homme et de la Société - UNILIM - Université de Limoges
Alain Sauviat: LAPE - Laboratoire d'Analyse et de Prospective Economique - IR SHS UNILIM - Institut Sciences de l'Homme et de la Société - UNILIM - Université de Limoges

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Abstract: We investigate whether the use of mobile money can help individuals build savings to face predictable and unpredictable life events. Studying the case of Burkina Faso, we use hand-collected data from individual responses to a survey we designed and conducted between May and June 2014. Our main results show that, although using mobile money services has no impact on saving for predictable events, it increases the propensity of individuals to save for health emergencies. We also find evidence that using mobile money increases the propensity of disadvantaged groups such as rural, female, less educated individuals and individuals with irregular income to save for health emergencies. In our further investigations, we address the mechanisms underlying individual saving behavior. We find that safety and the possibility to transfer money within the sub-region associated with mobile money may be factors that increase the propensity of mobile money users to save for health emergencies. Overall, our results are in line with policymakers' agenda worldwide to increase financial outreach and improve financial inclusion by using mobile technologies.

Keywords: Burkina Faso; sub-Saharan Africa; financial inclusion; savings; mobile money (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-mfd and nep-pay
Date: 2017-11-16
Note: View the original document on HAL open archive server: https://hal-unilim.archives-ouvertes.fr/hal-01360028v2
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Journal Article: Does Mobile Money Affect Saving Behaviour? Evidence from a Developing Country (2018) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-01360028

DOI: 10.2139/ssrn.2815090

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