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Who Holds Credit Cards and Bank Accounts in Uruguay? Evidence from Survey of Uruguayan Households Finances

Author

Listed:
  • Graciela Sanromán

    (Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

  • Guillermo Santos

    (Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

Abstract

In this paper we analyze households access to financial services such as credit cards and bank accounts. We use data available from the first stage of Survey of Uruguayan Households Finance (SUHF1) and ECH 2012. We estimate univariate and bivariate probit models for bank account and credit cards holdings. Evidence indicates that households' income, education level and working status are the main determinants of the probability of holding credit cards and bank accounts in Uruguay. In addition, we perform a counterfactual exercise which allows us to predict the effect of making compulsory to pay salaries through the financial system. Our prediction is that bank account and credit card holdings would increase at around 6 and 4 percentage points, respectively.

Suggested Citation

  • Graciela Sanromán & Guillermo Santos, 2014. "Who Holds Credit Cards and Bank Accounts in Uruguay? Evidence from Survey of Uruguayan Households Finances," Documentos de Trabajo (working papers) 0714, Department of Economics - dECON.
    • Handle: RePEc:ude:wpaper:0714
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    File URL: https://hdl.handle.net/20.500.12008/2270
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    Cited by:

    1. Rodrigo Lluberas, 2018. "The effect of government intervention on households' payment instrument choice," Documentos de trabajo 2018010, Banco Central del Uruguay.
    2. Rodrigo Lluberas & Joaquín Saldain, 2014. "Paper or plastic? Payment instrument choice in Uruguay," Documentos de trabajo 2014007, Banco Central del Uruguay.

    More about this item

    Keywords

    financial inclusion; household finances; bivariate probit estimation;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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