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What are the Headwaters of Formal Savings? Experimental Evidence from Sri Lanka / Michael Callen, Suresh De Mel, Craig McIntosh, Christopher Woodruff.
- Format:
- Book
- Author/Creator:
- Callen, Michael.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w20736.
- NBER working paper series no. w20736
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2014.
- Summary:
- The world's poor are seeing a rapid expansion in access to formal savings accounts. What is the source of savings when households are connected to a formal account? We combine a high-frequency panel survey spanning two and a half years with an experiment in which a Sri Lankan bank used mobile Point-of-Service (POS) terminals to collect deposits directly from households each week. We find that the headwaters of formal savings lie in sacrificed leisure time: households work more, and improved savings options generate an increase in labor effort in both self-employment and in the wage market. The results suggest that the labor allocation channel is an important mechanism linking savings opportunities to income.
- Notes:
- Print version record
- December 2014.
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