Publication:
Working Under Pressure: Improving Labor Productivity through Financial Innovation

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dc.contributor.authorCarranza, Eliana
dc.contributor.authorDonald, Aletheia
dc.contributor.authorGrosset, Florian
dc.contributor.authorKaur, Supreet
dc.date.accessioned2018-12-19T19:26:28Z
dc.date.available2018-12-19T19:26:28Z
dc.date.issued2018-12-17
dc.description.abstractIn developing countries, financial transfers within social and kin networks are ubiquitous and frequent. Though these transfers have social benefits, pressure to redistribute income can introduce a disincentive to work by reducing the payoff of exerting effort. This comes at a potential cost for the overall efficiency of the economy. The authors developed a financial innovation to study the impact of this redistributive pressure on workers’ labor supply and productivity. This innovation, a direct-deposit commitment savings account, enabled workers to convert productivity increases into private savings which cannot be accessed by others. In the first phase of their project, workers offered the direct-deposit commitment savings account increased their labor productivity and earnings by ten percent, which translates into an eighteen percent increase for workers who opened an account. The effect appears to be driven by workers increasing effort while on the job. Preliminary results show that the visibility of an account to one’s social network and the degree of redistributive pressure a worker faces are strong determinants of account take-up. This suggests that tackling the underlying cause for redistributive norms, the lack of consumption smoothing mechanisms, could improve output and growth in developing countries by addressing the root cause of the high demand for commitment savings products.en
dc.identifierhttp://documents.worldbank.org/curated/en/119451545023411016/Working-Under-Pressure-Improving-Labor-Productivity-through-Financial-Innovation
dc.identifier.doi10.1596/31029
dc.identifier.urihttps://hdl.handle.net/10986/31029
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesGender Innovation Lab Policy Brief;No. 31
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectLABOR PRODUCTIVITY
dc.subjectSAVINGS ACCOUNTS
dc.subjectGENDER
dc.subjectGENDER INNOVATION LAB
dc.subjectAFRICA GENDER POLICY
dc.subjectFEMALE ENTREPRENEURS
dc.subjectFINANCIAL SERVICES
dc.subjectWOMEN AND AGRICULTURE
dc.titleWorking Under Pressureen
dc.title.subtitleImproving Labor Productivity through Financial Innovationen
dc.typeBriefen
dc.typeFichefr
dc.typeResumenes
dspace.entity.typePublication
okr.crossref.titleWorking Under Pressure: Improving Labor Productivity through Financial Innovation
okr.date.disclosure2018-12-17
okr.doctypePublications & Research::Brief
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/119451545023411016/Working-Under-Pressure-Improving-Labor-Productivity-through-Financial-Innovation
okr.guid119451545023411016
okr.identifier.doi10.1596/31029
okr.identifier.externaldocumentum090224b0867a0b86_1_0
okr.identifier.internaldocumentum30699334
okr.identifier.report132959
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/119451545023411016/pdf/132959-BRI-PUBLIC-ProductivityBriefFINAL.pdfen
okr.region.administrativeAfrica
okr.region.geographicalSub-Saharan Africa
okr.topicFinance and Financial Sector Development::Contractual Savings
okr.topicFinance and Financial Sector Development::Finance and Development
okr.topicFinance and Financial Sector Development::Microfinance
okr.topicGender::Gender and Economics
okr.topicGender::Gender and Poverty
okr.unitGP - Social Protection & Labor (GSJDR)
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