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How Much Does Having a Bank Account Help the Poor?

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  • Gitanjali Sen
  • Sankar De

Abstract

Having a bank account is widely regarded as the first step toward financial inclusion of the poor. Funds deposited in a bank account are also observed to lead to higher savings. Exploiting special features of the National Rural Employment Guarantee Scheme (NREGS) of India, our estimates indicate that households that receive NREGS wages through a bank do not appear to spend more on education than other comparable households that receive cash payment. The district level intention to treat specification produces similar results. The findings suggest that the rural poor face constraints in accessing their bank accounts due to financial illiteracy and other problems.

Suggested Citation

  • Gitanjali Sen & Sankar De, 2018. "How Much Does Having a Bank Account Help the Poor?," Journal of Development Studies, Taylor & Francis Journals, vol. 54(9), pages 1551-1571, September.
    • Handle: RePEc:taf:jdevst:v:54:y:2018:i:9:p:1551-1571
    DOI: 10.1080/00220388.2017.1355455
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    Cited by:

    1. Sheri Markose & Thankom Arun & Peterson Ozili, 2022. "Financial inclusion, at what cost? : Quantification of economic viability of a supply side roll out," The European Journal of Finance, Taylor & Francis Journals, vol. 28(1), pages 3-29, January.
    2. Mohammad Tariqul Islam Khan, 2022. "Determinants and preferences for a crowdfunding project," Future Business Journal, Springer, vol. 8(1), pages 1-12, December.
    3. Md Monzur Morshed & Keshav Lall Maharjan, 2023. "Impact of Motivational Workshop on Financial Inclusion of Rural People in Bangladesh: Evidence from Randomized Controlled Trial," IJFS, MDPI, vol. 11(4), pages 1-19, December.
    4. Mallick, Debdulal & Zhang, Quanda, 2019. "The Effect of Financial Inclusion on Household Welfare in China," MPRA Paper 95786, University Library of Munich, Germany.
    5. Ji Luo & Daniel J. Henderson, 2021. "Minimum Wage Changes across Provinces in China: Average Treatment Effects on Employment and Investment Decisions," JRFM, MDPI, vol. 14(1), pages 1-16, January.
    6. Ubeda, Fernando & Mendez, Alvaro & Forcadell, Francisco Javier & López, Belén, 2024. "How socially sustainable multinational banks promote financial inclusion in developing countries," LSE Research Online Documents on Economics 124260, London School of Economics and Political Science, LSE Library.
    7. Feghali, Khalil & Mora, Nada & Nassif, Pamela, 2021. "Financial inclusion, bank market structure, and financial stability: International evidence," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 236-257.

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