Financial Services and the Informal Economy
This paper examines the impact of formality of employment on the utilisation of financial services, using data from the October 2000 Income and Expenditure Survey and the September 2000 Labour Force Survey. The presence of an employed member in the household is seen to be important for the utilisation of both bank accounts and funeral insurance, even after controlling for income. Furthermore there are strong links between the nature of this employment and utilisation of financial services. Employees are more likely to utilise financial services than the self-employed. Among employees, the probability of utilising financial services increases with the degree of formality of employment. These effects are stronger for formal banking services than for funeral insurance which includes informal burial societies.
|Date of creation:||2004|
|Date of revision:|
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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, 09.
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- 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.
- Holzmann, Robert & Jorgensen, Steen, 1999. "Social protection as social risk management : conceptual underpinnings for the social protection sector strategy paper," Social Protection and Labor Policy and Technical Notes 20119, The World Bank.
- H. Bhorat, 1999. "The October Household Survey, Unemployment and the Informal Sector: A Note," South African Journal of Economics, Economic Society of South Africa, vol. 67(2), pages 143-146, 06.
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