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‘Taking the Bank to the Youth’: Impacts on Savings from the Ghana YouthSave Experiment

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  • Yung Soo Lee
  • Lissa Johnson
  • David Ansong
  • Isaac Osei‐Akoto
  • Rainier Masa
  • Gina Chowa
  • Michael Sherraden

Abstract

This paper explores experimental impacts of in‐school banking and marketing outreach on the savings performance of youth in Ghana. Findings suggest that youth in treatment schools performed better than those in control schools in terms of account opening, depositing and savings. Between the two treatment conditions, in‐school banking was more effective than marketing outreach in promoting savings. These findings demonstrate that a meaningful proportion of low‐income youth, in a resource‐limited country, can be connected to formal financial services and save if access and opportunities are available. The results support the offering of financial services at schools as a strategy to expand youth financial inclusion. Copyright © 2017 John Wiley & Sons, Ltd.

Suggested Citation

  • Yung Soo Lee & Lissa Johnson & David Ansong & Isaac Osei‐Akoto & Rainier Masa & Gina Chowa & Michael Sherraden, 2017. "‘Taking the Bank to the Youth’: Impacts on Savings from the Ghana YouthSave Experiment," Journal of International Development, John Wiley & Sons, Ltd., vol. 29(7), pages 936-947, October.
    • Handle: RePEc:wly:jintdv:v:29:y:2017:i:7:p:936-947
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    Cited by:

    1. David Ansong & Moses Okumu & Frank Otchere & Isaac Koomson & Michael Sherraden, 2021. "Addressing the Burden of Education Financing in Low and Lower-Middle-Income Countries: The Role of Savings Accounts, Cash Transfers, and Other Income Sources," Journal of Family and Economic Issues, Springer, vol. 42(4), pages 745-756, December.
    2. David Ansong & Gina Chowa & Rainier Masa & Mathieu Despard & Michael Sherraden & Shiyou Wu & Isaac Osei-Akoto, 2019. "Effects of Youth Savings Accounts on School Attendance and Academic Performance: Evidence from a Youth Savings Experiment," Journal of Family and Economic Issues, Springer, vol. 40(2), pages 269-281, June.
    3. Jin Huang & Margaret S. Sherraden & Michael Sherraden & Lissa Johnson, 2022. "Experimental Effects of Child Development Accounts on Financial Capability of Young Mothers," Journal of Family and Economic Issues, Springer, vol. 43(1), pages 36-50, March.
    4. Jin Huang & Michael Sherraden & Margaret S. Sherraden & Lissa Johnson, 2022. "Effective finance to increase financial well‐being for low‐income families: Empirical examination and policy implications," Journal of Consumer Affairs, Wiley Blackwell, vol. 56(4), pages 1638-1657, December.

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