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A National Information Campaign Encouraging Financial Technology Use in Ghana

Author

Listed:
  • Emma Riley

    (University of Washington)

  • Abu S. Shonchoy

    (Department of Economics, Florida International University)

Abstract

We utilise high-frequency "interactive voice response (IVR)" messages to encourage adoption of mobile banking technology in Ghana. We randomise 15,000 bank clients equally to receive messages on a) mobile banking encouragement (MB-IVR); b) savings encouragement (Savings-IVR); or c) control (no messages). Analysis using administrative records shows significant impacts of MB-IVR, tripling mobile banking use from 2.4% in the control group, with persisting effects measured at five-month post-intervention period. We see improvements in financial behaviour: The MB-IVR groups are 8% more likely to repay loans on-time, and 11% less likely to travel to the bank. There is no impact of Savings-IVR.

Suggested Citation

  • Emma Riley & Abu S. Shonchoy, 2022. "A National Information Campaign Encouraging Financial Technology Use in Ghana," Working Papers 2206, Florida International University, Department of Economics.
    • Handle: RePEc:fiu:wpaper:2206
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    File URL: https://economics.fiu.edu/research/pdfs/2022_working_papers/2206.pdf
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