Footnotes (14)



Who are the Unbanked?

Simeon Djankov

New Economic School (NES)

Siddharth Sharma

The World Bank

June 1, 2008

World Bank Policy Research Working Paper No. 4647

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.

Number of Pages in PDF File: 27

Keywords: Access to Finance, Banks & Banking Reform, Emerging Markets, Debt Markets

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Date posted: June 22, 2008  

Suggested Citation

Djankov, Simeon and Sharma, Siddharth, Who are the Unbanked? (June 1, 2008). World Bank Policy Research Working Paper Series, Vol. , pp. -, 2008. Available at SSRN: http://ssrn.com/abstract=1149580

Contact Information

Simeon Djankov (Contact Author)
New Economic School (NES) ( email )
47 Nakhimovsky Prospekt
Moscow, 117418
HOME PAGE: http://www.nes.ru
Siddharth Sharma
The World Bank ( email )
2121 Pennsylvania Avenue, NW
Washington, DC 20433
United States
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