Savings in Transnational Households: A Field Experiment among Migrants from El Salvador
AbstractWe implemented a randomized field experiment that tested ways to stimulate savings by international migrants in their origin country. We find that migrants value and take advantage of opportunities to exert greater control over financial activities in their home countries. In partnership with a Salvadoran bank, we offered U.S.-based migrants bank accounts in El Salvador. We randomly varied migrant control over El Salvador-based savings by offering different types of accounts across treatment groups. Migrants offered the greatest degree of control accumulated the most savings at the partner bank, compared to others offered less or no control over savings. Impacts are likely to represent increases in total savings: there is no evidence that savings increases were simply reallocated from other savings mechanisms. Enhanced control over home-country savings does not affect remittances sent home by migrants.
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Date of creation: Mar 2014
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Find related papers by JEL classification:
- F22 - International Economics - - International Factor Movements and International Business - - - International Migration
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-04-11 (All new papers)
- NEP-DEV-2014-04-11 (Development)
- NEP-EXP-2014-04-11 (Experimental Economics)
- NEP-GER-2014-04-11 (German Papers)
- NEP-MIG-2014-04-11 (Economics of Human Migration)
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