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Savings behaviour in low-income countries

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  • MR Rosenzweig

Abstract

The empirical literature on savings in low-income countries has exploited some remarkable data sets to shed new light on savings behaviour in the poor agricultural households that make up the majority of the population in such countries. A number of conclusions have emerged: (i) the degree of consumption smoothing over seasons within the year and across years, in response to very large income fluctuations, is higher than was supposed; (ii) the lack of complete insurance and credit markets, however, is manifested in asset stocks and asset compositions among farmers, especially small farmers, that are inefficient; (iii) the combination of low and volatile incomes is an important cause of inefficiency and income inequality; (iv) the proximity of formal financial institutions increases financial savings and crowds out informal insurance arrangements, thus, in principle, better facilitating financial intermediation; and (iv) simple life-cycle models of savings do not appear to explain long-term savings in low-income settings. Copyright 2001, Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Review of Economic Policy.

Volume (Year): 17 (2001)
Issue (Month): 1 (Spring)
Pages: 40-54

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Handle: RePEc:oup:oxford:v:17:y:2001:i:1:p:40-54

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Web page: http://oxrep.oupjournals.org/

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Cited by:
  1. Hans Hoogeveen & Bas van der Klaauw & Gijsbert van Lomwel, 2004. "On the Timing of Marriage, Cattle and Weather Shocks," Tinbergen Institute Discussion Papers 04-073/3, Tinbergen Institute.
  2. SENBATA, Sisay Regassa, 2011. "How applicable are the new Keynesian DSGE models to a typical low-income economy?," Working Papers 2011016, University of Antwerp, Faculty of Applied Economics.
  3. Baliamoune-Lutz, Mina N., 2006. "Financial Reform and the Mobilization of Domestic Savings: The Experience of Morocco," Working Paper Series RP2006/100, World Institute for Development Economic Research (UNU-WIDER).
  4. Alan de BROMHEAD & Karol Jan BOROWIECKI, 2011. "Immigration and the demand for life insurance: Evidence from Canada, 1911," Trinity Economics Papers tep1511, Trinity College Dublin, Department of Economics.
  5. Han, Linghui & Hare, Denise, 2013. "The link between credit markets and self-employment choice among households in rural China," Journal of Asian Economics, Elsevier, vol. 26(C), pages 52-64.
  6. Johnson, Hillary & El Mekkaoui de Freitas, Najat, 2013. "Formal and Informal Social Protection in Iraq," Economics Papers from University Paris Dauphine 123456789/13208, Paris Dauphine University.
  7. Larson, Donald F. & Plessmann, Frank, 2009. "Do farmers choose to be inefficient? Evidence from Bicol," Journal of Development Economics, Elsevier, vol. 90(1), pages 24-32, September.
  8. Karlan, Dean & Morduch, Jonathan, 2010. "Access to Finance," Handbook of Development Economics, Elsevier.
  9. Jeong-Joon Lee & Yasuyuki Sawada, 2005. "Precautionary Saving under LiquidityConstraints: Evidence from Rural Pakistan," CIRJE F-Series CIRJE-F-377, CIRJE, Faculty of Economics, University of Tokyo.
  10. Duvendack, Maren, 2010. "Smoke and Mirrors: Evidence of Microfinance Impact from an Evaluation of SEWA Bank in India," MPRA Paper 24511, University Library of Munich, Germany.
  11. Hans Hoogeveen & Bas van der Klaauw & Gijsbert van Lomwel, 2004. "On the Timing of Marriage, Cattle and Weather Shocks," Tinbergen Institute Discussion Papers 04-073/3, Tinbergen Institute.
  12. Matthew Jowett, 2004. "Theoretical insights into the development of health insurance in low-income countries," Working Papers 188chedp, Centre for Health Economics, University of York.
  13. Syed Abul Hasan, 2013. "The impact of a large rice price increase on welfare and poverty in Bangladesh," ASARC Working Papers 2013-11, The Australian National University, Australia South Asia Research Centre.
  14. Takasaki, Yoshito, 2011. "Do the Commons Help Augment Mutual Insurance Among the Poor?," World Development, Elsevier, vol. 39(3), pages 429-438, March.
  15. Jeong-Joon Lee & Yasuyuki Sawada, 2005. "Precautionary Saving under Liquidity Constraints: Evidence from Rural Pakistan (Published in "Journal of Development Economics". )," CARF F-Series CARF-F-051, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.

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