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Who are the unbanked ?

Author

Listed:
  • Djankov, Simeon
  • Miranda, Pedro
  • Seira, Enrique
  • Sharma, Siddharth

Abstract

This paper uses nationally representative survey data from Mexico to compare households with savings accounts in formal financial institutions to their neighbors who do not have such accounts. The survey,which was conducted in 2005, contains information on nearly 5,000 households. The findings show that although neighboring banked and unbanked households have similar demographic and occupational profiles, the former are more educated and have markedly greater wealth. The median banked household spends 32 percent more per capita than the median unbanked household, and the median per capita wealth in banked households is 88 percent higher than that in unbanked households. The findings suggest that education levels, wealth, and unobserved household attributes that might be correlated with wealth and education play a major role in explaining who is banked.

Suggested Citation

  • Djankov, Simeon & Miranda, Pedro & Seira, Enrique & Sharma, Siddharth, 2008. "Who are the unbanked ?," Policy Research Working Paper Series 4647, The World Bank.
    • Handle: RePEc:wbk:wbrwps:4647
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    Citations

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    Cited by:

    1. Michael King, 2012. "The Unbanked Four-Fifths: Informality and Barriers to Financial Services in Nigeria," The Institute for International Integration Studies Discussion Paper Series iiisdp411, IIIS.
    2. Dean Karlan & Aishwarya Lakshmi Ratan & Jonathan Zinman, 2014. "Savings by and for the Poor: A Research Review and Agenda," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(1), pages 36-78, March.
    3. Mandelman, Federico S. & Zlate, Andrei, 2012. "Immigration, remittances and business cycles," Journal of Monetary Economics, Elsevier, vol. 59(2), pages 196-213.
    4. Stix, Helmut, 2013. "Why do people save in cash? Distrust, memories of banking crises, weak institutions and dollarization," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4087-4106.
    5. World Bank, 2009. "Banking the Poor : Measuring Banking Access in 54 Economies," World Bank Publications - Books, The World Bank Group, number 13804.
    6. Marín Ana Georgina & Schwabe Rainer, 2013. "Bank Competition and Account Penetration: Evidence from Mexico," Working Papers 2013-14, Banco de México.
    7. Dean Karlan, Aishwarya Lakshmi Ratan, Jonathan Zinman, 2013. "Savings by and for the Poor: A Research Review and Agenda-Working Paper 346," Working Papers 346, Center for Global Development.
    8. Michael King, 2012. "Is Mobile Banking Breaking the Tyranny of Distance to Bank Infrastructure? Evidence from Kenya," The Institute for International Integration Studies Discussion Paper Series iiisdp412, IIIS.
    9. Daisy Johana Pacheco & Ana María Yaruro, 2016. "Factores que afectan la tenencia de productos financieros en Colombia," Borradores de Economia 978, Banco de la Republica de Colombia.
    10. Md Aslam Mia, 2024. "Loyalty of rural microfinance borrowers: International evidence," Bulletin of Economic Research, Wiley Blackwell, vol. 76(1), pages 67-94, January.
    11. Michael King, 2012. "Assistant Professor," The Institute for International Integration Studies Discussion Paper Series iiisdp399, IIIS.

    More about this item

    Keywords

    Access to Finance; Banks&Banking Reform; Emerging Markets; Debt Markets;
    All these keywords.

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