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Using Lotteries to Attract Deposits / Paul Gertler, Sean Higgins, Aisling Scott, Enrique Seira.
- Format:
- Book
- Author/Creator:
- Gertler, Paul.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w31529.
- NBER working paper series no. w31529
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2023.
- Summary:
- Despite the importance of deposit financing for lending, banks in developing countries struggle to attract deposits. In a randomized experiment across 110 bank branches throughout Mexico, a lottery incentive based on net monthly deposits caused a 40% increase in the number of accounts opened and a 21% increase in the number of deposits during the lottery months. Nearly all new accounts (96%) were opened by households previously unbanked at any bank. The temporary two-month incentive had a persistent 2-3 year impact on the flow of deposits and stock of savings, and increased the present value of branch profits by 6%.
- Notes:
- Print version record
- August 2023.
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