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Does Biological Endowment Matter for Demand for Financial Services? Evidence from Russian Household Survey

Irina Andrievskaya () and Maria Semenova
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Irina Andrievskaya: National Research University Higher School of Economics

HSE Working papers from National Research University Higher School of Economics

Abstract: There are many studies revealing factors which influence the demand for financial services. However genetic features, determining the individual’s overall postnatal behaviour, have not been studied within this context. This paper extends the previous literature by studying to what extent individual biological endowment, proxied by prenatal testosterone (PT) (measured by the 2D:4D ratio), can determine personal demand for bank services and insurance. We use data from the Russian Longitudinal Monitoring Survey of 2011–2012. Our findings confirm the existence of the link between inherent biological variation and financial inclusion: PT affects the use of bank cards, intention to take out a loan, having a bank deposit and the consumption of insurance products

Keywords: prenatal testosterone; 2D:4D ratio; financial inclusion; household; RLMS; Russia (search for similar items in EconPapers)
JEL-codes: D14 D81 G21 G22 O16 P34 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2016
New Economics Papers: this item is included in nep-cis, nep-ias, nep-pay and nep-tra
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Published in WP BRP Series: Financial Economics / FE, February 2016, pages - 30

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Persistent link: https://EconPapers.repec.org/RePEc:hig:wpaper:52/fe/2016

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