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Banking the Unbanked? Evidence from three countries

Jul 2016
Working Paper
16-035
By  Pascaline Dupas, Dean Karlan, Jonathan Robinson, Diego Ubfal

We experimentally test the impact of expanding access to basic bank accounts in Uganda, Malawi, and Chile. Over two years, 17%, 10%, and 3% of treatment individuals made five or more deposits, respectively. Average monthly deposits for them were at the 79th, 91st, and 96th percentiles of baseline savings. Survey data show no clearly discernible intention-to-treat effects on savings or any downstream outcomes. This suggests that policies merely focused on expanding access to basic accounts are unlikely to improve welfare noticeably since impacts, even if present, are likely small and diverse.

Publication Keywords: 
Financial access
Savings
Banking
Microfinance
Field experiment
Multi-country
Uganda
Malawi
Chile