1. Savings by and for the Poor: A Research Review and Agenda
- Author:
- Dean Karlan, Jonathan Zinman, and Aishwarya Lakshmi Ratan
- Publication Date:
- 11-2013
- Content Type:
- Working Paper
- Institution:
- Center for Global Development
- Abstract:
- The poor can and do save, but often use formal or informal instruments that have high risk, high cost, and limited functionality. This could lead to undersaving compared to a world without market or behavioral frictions. Undersaving can have important welfare consequences: variable consumption, low resilience to shocks, and foregone profitable investments.
- Topic:
- Development, Economics, Globalization, International Trade and Finance, Markets, Poverty, and Financial Crisis