High Hopes: experimental evidence on saving and the transition to high school in Kenya
We report results of a randomized control trial in which parents of primary school leavers were encouraged to open a convenient bank account operated over a mobile money platform. A lock savings account (LSA) was randomly promoted to half the treatment group. Treatment boosted account take-up by 25 percentage points. Intent-to-treat estimates show that being offered either account increased savings on the mobile phone. Total financial savings increased by 3-4 times, suggesting access to the mobile bank account crowded in other forms of savings. High school enrollment was 5-6 percentage points higher – representing a one third increase for compliers.
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Jack, William; Kremer, Michael; de Laat, Joost; Suri, Tavneet (Georgetown University Initiative on Innovation, Development and Evaluation, 2016-07-18)We examine the potential of asset-collateralized loans in low-income country credit markets. When a Kenyan dairy cooperative exogenously replaced high down payments and joint liability requirements with loans collateralized ...