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Savings, Insurance And Debt Over The Post‐Apartheid Period: A Review Of Recent Research

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  • CALLY ARDINGTON
  • DAVID LAM
  • MURRAY LEIBBRANDT
  • JAMES LEVINSOHN

Abstract

Sustainable poverty reduction requires that poor households effectively manage risk. The absence of basic financial services is a major obstacle to poverty reduction in South Africa. This paper reviews available South African literature on utilisation of formal and informal risk management instruments. The centrality of income in accessing the complementary bundle of formal financial services excludes households in the lower deciles from formal financial services. Rural households and households without formally employed household members are also denied access. Strong complementarities with informal channels of finance mean that these same households have limited access to even informal financial services. Promoting the use of savings accounts in pension and social grant payouts and the growth of village banks have been suggested as means to increase formal access for the poor.
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  • Cally Ardington & David Lam & Murray Leibbrandt & James Levinsohn, 2004. "Savings, Insurance And Debt Over The Post‐Apartheid Period: A Review Of Recent Research," South African Journal of Economics, Economic Society of South Africa, vol. 72(3), pages 604-640, September.
    • Handle: RePEc:bla:sajeco:v:72:y:2004:i:3:p:604-640
    DOI: 10.1111/j.1813-6982.2004.tb00128.x
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    References listed on IDEAS

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    1. Paul Mosley & Robert Holzmann & Steen Jorgensen, 1999. "Social protection as social risk management: conceptual underpinnings for the social protection sector strategy paper," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(7), pages 1005-1027.
    2. Maluccio, John A. & Haddad, Lawrence James & May, Julian, 1999. "Social capital and income generation in South Africa, 1993-98," FCND discussion papers 71, International Food Policy Research Institute (IFPRI).
    3. Cally Ardington & David Lam & Murray Leibbrandt & James Levinsohn, 2004. "Savings, Insurance And Debt Over The Post‐Apartheid Period: A Review Of Recent Research," South African Journal of Economics, Economic Society of South Africa, vol. 72(3), pages 604-640, September.
    4. Julian May & Andy Norton, 1997. "“a Difficult Life”: The Perceptions and Experience of Poverty in South Africa," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 41(1), pages 95-118, July.
    5. Morduch, Jonathan, 1999. "Between the State and the Market: Can Informal Insurance Patch the Safety Net?," The World Bank Research Observer, World Bank, vol. 14(2), pages 187-207, August.
    6. Jonathan Morduch, 1999. "The Microfinance Promise," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1569-1614, December.
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    1. Cally Ardington & David Lam & Murray Leibbrandt & James Levinsohn, 2004. "Savings, Insurance And Debt Over The Post‐Apartheid Period: A Review Of Recent Research," South African Journal of Economics, Economic Society of South Africa, vol. 72(3), pages 604-640, September.
    2. Miquel Pellicer & Vimal Ranchhod & Mare Sarr & Eva Wegner, 2011. "Inequality Traps in South Africa: An overview and research agenda," SALDRU Working Papers 57, Southern Africa Labour and Development Research Unit, University of Cape Town.
    3. Y. Svetiev & E. Dermineur & U. Kolanisi, 2022. "Financialization and Sustainable Credit: Lessons from Non-Intermediated Transactions?," Journal of Consumer Policy, Springer, vol. 45(4), pages 673-698, December.
    4. Merrino, Serena, 2022. "Monetary policy and wage inequality in South Africa," Emerging Markets Review, Elsevier, vol. 53(C).
    5. Siân Butcher, 2020. "Creating a gap that can be filled: Constructing and territorializing the affordable housing submarket in Gauteng, South Africa," Environment and Planning A, , vol. 52(1), pages 173-199, February.
    6. Serena Merrino, 2021. "Wage inequality under inflationtargeting in South Africa," Working Papers 11018, South African Reserve Bank.
    7. Francis Nathan Okurut, 2006. "Access to credit by the poor in South Africa: Evidence from Household Survey Data 1995 and 2000," Working Papers 13/2006, Stellenbosch University, Department of Economics.
    8. von Fintel, Dieter & Orthofer, Anna, 2020. "Wealth inequality and financial inclusion: Evidence from South African tax and survey records," Economic Modelling, Elsevier, vol. 91(C), pages 568-578.
    9. Vuong Quoc, Duy, 2011. "Are households’ poverty levels in Mekong Delta of Vietnam affected by access to credit?," MPRA Paper 35412, University Library of Munich, Germany.
    10. James, Deborah, 2017. "Deductions and counter-deductions in South Africa," LSE Research Online Documents on Economics 85975, London School of Economics and Political Science, LSE Library.
    11. Cally Ardington & Murray Leibbrandt, 2004. "Financial Services and the Informal Economy," SALDRU/CSSR Working Papers 066, Southern Africa Labour and Development Research Unit, University of Cape Town.

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