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What are the Headwaters of Formal Savings? Experimental Evidence from Sri Lanka

Author

Listed:
  • Michael Callen
  • Suresh De Mel
  • Craig McIntosh
  • Christopher Woodruff

Abstract

When households increase their deposits in formal bank savings accounts, what is the source of the money? High-frequency surveys are combined with an experiment in which a Sri Lankan bank used mobile Point-of-Service (POS) terminals to collect deposits directly from households each week. In this context, the headwaters of formal savings are to be found in sacrificed leisure time: households work more and work more on the wage market when savings options improve. These results suggest that the labour allocation channel is an important mechanism linking savings opportunities to income.

Suggested Citation

  • Michael Callen & Suresh De Mel & Craig McIntosh & Christopher Woodruff, 2014. "What are the Headwaters of Formal Savings? Experimental Evidence from Sri Lanka," Working Papers id:6265, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:6265
    Note: Institutional Papers
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    Keywords

    income; savings; opportunities; households; leisure time; Sri Lanka; wage market; labour allocation; work; deposits; formal bank; surveys;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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