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Can the Poor Save More? Evidence from Bangladesh

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  • Matteo Marinangeli

    (Universit… Politecnica delle Marche, Faculty of Economics "Giorgio Fu…")

  • Andrea Filippo Presbitero

    ()
    (Universit… Politecnica delle Marche, MoFiR)

Abstract

Microsavings contribute to smooth consumption, face emergencies and increase welfare of poor households and to empower and foster investment opportunities for poor women. We take advantage of an original survey submitted to 98 Bangladeshi women member of Hitaishi, a small Dhaka-based microfinance institution (MFI), to analyze the determinants and the effects of voluntary microsavings for poor households. The analysis of saving strategies confirms that the poor are financially sophisticated and use several different (formal and informal) savings devices. Different econometric exercises show that time inconsistency play a key role in women's attitude to voluntary save, which increases also with MFI membership. Distinctive patterns emerge in the choice of formal and informal savings institutions. We also find that the capacity to cover unexpected expenditures and over-indebtedness are less likely to occur among voluntary savers.

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File URL: http://docs.dises.univpm.it/web/quaderni/pdfmofir/Mofir057.pdf
File Function: First version, 2011
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Bibliographic Info

Paper provided by Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences in its series Mo.Fi.R. Working Papers with number 57.

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Length: 23
Date of creation: Nov 2011
Date of revision:
Handle: RePEc:anc:wmofir:57

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Related research

Keywords: Bangladesh; Microfinance; Savings;

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References

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  1. Nava Ashraf & Dean Karlan & Wesley Yin, 2006. "Female Empowerment: Impact of a Commitment Savings Product in the Philippines," Working Papers 949, Economic Growth Center, Yale University.
  2. Pascaline Dupas & Jonathan Robinson, 2013. "Why Don't the Poor Save More? Evidence from Health Savings Experiments," American Economic Review, American Economic Association, vol. 103(4), pages 1138-71, June.
  3. Martin Browning & Annamaria Lusardi, 1996. "Household Saving: Micro Theories and Micro Facts," Journal of Economic Literature, American Economic Association, vol. 34(4), pages 1797-1855, December.
  4. Nava Ashraf & Dean Karlan & Wesley Yin, 2006. "Tying Odysseus to the Mast: Evidence from a Commitment Savings Product in the Philippines," The Quarterly Journal of Economics, MIT Press, vol. 121(2), pages 635-672, May.
  5. Glenn W. Harrison & Morten I. Lau & Melonie B. Williams, 2001. "Estimating Individual Discount Rates in Denmark: A Field Experiment," NCEE Working Paper Series 200102, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Nov 2001.
  6. Bauer, Michal & Chytilová, Julie & Morduch, Jonathan, 2010. "Behavioral Foundations of Microcredit: Experimental and Survey Evidence from Rural India," IZA Discussion Papers 4901, Institute for the Study of Labor (IZA).
  7. Brune, Lasse & Gine, Xavier & Goldberg, Jessica & Yang, Dean, 2011. "Commitments to save : a field experiment in rural Malawi," Policy Research Working Paper Series 5748, The World Bank.
  8. Robinson, Jonathan & Dupas, Pascaline, 2009. "Savings Constraints and Microenterprise Development: Evidence from a Field Experiment in Kenya," Santa Cruz Department of Economics, Working Paper Series qt34w0w53t, Department of Economics, UC Santa Cruz.
  9. Jessica Schicks, 2010. "Microfinance Over-Indebtedness: Understanding its drivers and challenging the common myths," Working Papers CEB 10-048, ULB -- Universite Libre de Bruxelles.
  10. Rebecca Vonderlack & Mark Schreiner, 2001. "Women, Microfinance, and Savings: Lessons and Proposals," Development and Comp Systems 0108004, EconWPA, revised 27 Dec 2001.
  11. Basu, Karna, 2009. "A behavioral model of simultaneous borrowing and saving," MPRA Paper 20442, University Library of Munich, Germany.
  12. David Hulme & Thankom Arun, 2011. "What’s wrong and right with microfinance – missing an angle on responsible finance?," Brooks World Poverty Institute Working Paper Series 15511, BWPI, The University of Manchester.
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