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Who are the unbanked ?

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Author Info

  • Djankov, Simeon
  • Miranda, Pedro
  • Seira, Enrique
  • Sharma, Siddharth

Abstract

This paper uses nationally representative survey data from Mexico to compare households with savings accounts in formal financial institutions to their neighbors who do not have such accounts. The survey,which was conducted in 2005, contains information on nearly 5,000 households. The findings show that although neighboring banked and unbanked households have similar demographic and occupational profiles, the former are more educated and have markedly greater wealth. The median banked household spends 32 percent more per capita than the median unbanked household, and the median per capita wealth in banked households is 88 percent higher than that in unbanked households. The findings suggest that education levels, wealth, and unobserved household attributes that might be correlated with wealth and education play a major role in explaining who is banked.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4647.

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Date of creation: 01 Jun 2008
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Handle: RePEc:wbk:wbrwps:4647

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Related research

Keywords: Access to Finance; Banks&Banking Reform; Emerging Markets; Debt Markets;

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Cited by:
  1. Federico Mandelman & Andrei Zlate, 2010. "Immigration, remittances and business cycles," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) 998, Board of Governors of the Federal Reserve System (U.S.).
  2. Helmut Stix, 2012. "Why Do People Save in Cash? Distrust, Memories of Banking Crises, Weak Institutions and Dollarization," Working Papers, Oesterreichische Nationalbank (Austrian Central Bank) 178, Oesterreichische Nationalbank (Austrian Central Bank).

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