Household Participation in Formal and Informal Savings Mechanisms: Evidence from Pakistan
Savings are an important determinant of both individual and national wellbeing. Typically, households employ a wide range of mechanisms for saving, including both formal and informal institutions. The choice of savings instrument has important micro- and macroeconomic implications. However, little is known empirically about the patterns of use of these instruments, or the factors affecting household decisions/ abilities to use them. The authors apply household-level data from a nationally representative survey for Pakistan to explore these issues in detail. In particular, they focus on the choice between banks and bisi, an informal saving committee similar in nature to a rotating-savings-and-credit association. Copyright 2002 by Blackwell Publishing Ltd
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Volume (Year): 6 (2002)
Issue (Month): 3 (October)
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