Djankov, SimeonMiranda, PedroSeira, EnriqueSharma, Siddharth2012-05-302012-05-302008-06https://hdl.handle.net/10986/6666This 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.CC BY 3.0 IGOACCESS TO BANKINGACCESS TO BANKING SERVICESACCESS TO BANKSACCESS TO FINANCIAL SERVICESACCOUNT HOLDERSACCOUNTINGAFFORDABILITYAGRICULTURAL ACTIVITIESAGRICULTURAL INCOMEANNUAL INCOMEBANK ACCESSBANK ACCOUNTBANK ACCOUNTSBANK BRANCHBANK BRANCHESBANK CUSTOMERSBANK FEESBANK POLICYBANK SERVICESBANKING LEGISLATIONBANKING MARKETSBANKING NETWORKBANKING SERVICESBANKSBARRIERBARRIER TO BANKINGBEHAVIORAL ECONOMICSBEHAVIORAL TRAITSBONDBORROWINGBROKERAGEBUSINESS SCHOOLCALCULATIONCHECKSCOLLEGE EDUCATIONCOMMERCIAL BANKCOMMERCIAL BANKSCONSUMERCONSUMER DURABLESCONSUMER EXPENDITURESCONSUMPTION EXPENDITURECOOPERATIVESCREDIT ASSOCIATIONSCREDIT COOPERATIVESCREDIT GUARANTEESCREDIT MARKETCREDIT MARKETSCREDIT UNIONSCURRENCYCURRENCY CRISESDEALING WITH BANKSDEBTDEBT FORGIVENESSDEMOGRAPHICDEMOGRAPHIC CHARACTERISTICSDEPOSITDEPOSIT ACCOUNTSDEPOSITORSDEPOSITSDEVELOPING COUNTRIESDEVELOPMENT BANKDIRECTED CREDITDISTRIBUTION OF INCOMEDISTRIBUTION OF WEALTHECONOMIC SHOCKSEDUCATION LEVELSEDUCATIONAL ATTAINMENTEMPLOYEEENTREPRENEURETHNIC NEIGHBORHOODEXPENDITUREEXPENDITURESFEDERAL RESERVEFEDERAL RESERVE BANKFINANCE CORPORATIONFINANCIAL ACCESSFINANCIAL ACCOUNTSFINANCIAL ASSETSFINANCIAL BEHAVIORFINANCIAL CHOICESFINANCIAL DECISIONFINANCIAL EDUCATIONFINANCIAL INFORMATIONFINANCIAL KNOWLEDGEFINANCIAL LITERACYFINANCIAL MANAGEMENTFINANCIAL MARKETFINANCIAL TRANSACTIONSFIRST ACCOUNTFORM OF COLLATERALFORMAL FINANCIAL INSTITUTIONFORMAL FINANCIAL INSTITUTIONSFORMAL FINANCIAL SECTORFORMAL LOANSFRINGE BANKINGHEALTH INSURANCEHIGH INTEREST RATESHIGHER COST FINANCIAL SERVICESHOME OWNERSHIPHOUSEHOLD EXPENDITUREHOUSEHOLD FINANCEHOUSEHOLD INCOMEHOUSEHOLD WELFAREHOUSEHOLDSINCOME SHOCKSINFORMAL BANKSINFORMAL FINANCINGINFORMAL SAVINGSINITIAL DEPOSITINITIAL DEPOSITSINTEREST RATEINTEREST RATESINTERNATIONAL BANKINTERNATIONAL FINANCEINVESTMENT ACCOUNTLACK OF AWARENESSLAWSLEVEL OF ASSETSLEVEL OF EDUCATIONLIABILITYLIQUIDITYLOANS FROM FRIENDSLOW INCOMELOW INTEREST RATESLOW-INCOMELOW-INCOME PEOPLELOWER INCOMELOWER INTEREST RATESLOWER-INCOME COMMUNITIESLOWER-INCOME POPULATIONMAINTENANCE FEEMFIMFISMICRO-FINANCEMICRO-FINANCE INSTITUTIONMICROFINANCEMICROFINANCE INSTITUTIONSMINIMUM BALANCESMINIMUM DEPOSITMINORITY GROUPMUNICIPALITIESOUTREACHPERMANENT JOBPHYSICAL ACCESSPRIVATE SECTOR DEVELOPMENTPROBABILITYPROPENSITY TO SAVEPUBLIC POLICYQUESTIONNAIREREAL ESTATEREGULATORY ENVIRONMENTREGULATORY OVERSIGHTREMITTANCESREORGANIZATIONRURAL BANKSRURAL CREDITRURAL CREDIT MARKETRURAL CREDIT MARKETSSAVINGSSAVINGS ACCOUNTSAVINGS ACCOUNTSSAVINGS INSTITUTIONSAVINGS INSTRUMENTSSECONDARY SCHOOLSELF-EMPLOYMENTSOCIAL BANKINGSOURCE OF INCOMETECHNICAL ASSISTANCETRANSACTIONTRANSACTION COSTSTRANSACTIONS COSTURBAN POPULATIONVALUABLEVARIABLE COSTSWAGEWAGESWELFARE PROGRAMWORTHWorld Bank10.1596/1813-9450-4647