Saving on the Phone—Evidence from Ghanaian Cocoa Farmers.
Effective savings mechanisms are crucial for household resilience and economic growth. Savings accounts, whether from banks or mobile-phone based, offer an alternative to informal saving mechanisms as they provide safe and private cash storage. However, there is still no clear evidence on how the us...
| Published in: | Journal of Development Studies Vol. 61; no. 1; pp. 63 - 81 |
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| Main Authors: | , , |
| Format: | Article |
| Published: |
Taylor & Francis Ltd
Jan2025
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=181910139&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 181910139 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00220388 JDS jtl: Journal of Development Studies issn: 00220388 maglogo: N pubinfo: dt: Jan2025 vid: 61 iid: 1 pid: 377 pub: Taylor & Francis Ltd artinfo: ui: 181910139 10.1080/00220388.2024.2398464 ppf: 63 ppct: 18 formats: fmt: – @attributes: type: T db: hlh ui: 181910139 – @attributes: type: P db: hlh ui: 181910139 tig: atl: Saving on the Phone—Evidence from Ghanaian Cocoa Farmers. aug: au: Wahbi, Annkathrin Rosero, Gabriel Musshoff, Oliver affil: Department of Agricultural Economics and Rural Development, Georg-August-Universität Göttingen, Göttingen, Germany su: Banking industry Financial inclusion Cacao growers High technology industries Bank accounts sug: subj: Banking industry Personal and commercial banking industry Savings Institutions Other Depository Credit Intermediation Commercial Banking Financial inclusion Cacao growers High technology industries Bank accounts keyword: Digital finance gender Ghana interval regression micro savings mobile financial services Digital finance gender Ghana interval regression micro savings mobile financial services ab: Effective savings mechanisms are crucial for household resilience and economic growth. Savings accounts, whether from banks or mobile-phone based, offer an alternative to informal saving mechanisms as they provide safe and private cash storage. However, there is still no clear evidence on how the use of digital tools can contribute to increasing farmers' savings, compared with other financial tools such as bank accounts or keeping cash at home. To address this gap, we investigate factors affecting cocoa farmers' decisions to save, as well as their savings amounts. Shedding light on saving determinants, we answer the question of whether formal and semi-formal accounts play a major role in savings accumulation. For our study, we employ data from a structured telephone survey conducted in 2021 among 405 randomly sampled cocoa farmers. Results from an interval regression suggest that bank account usage is associated with higher savings amounts. In contrast to male cocoa farmers, females seem to use mobile savings tools to their benefit. Our analysis further reveals the importance of education in household financial resource management. We provide valuable results for public policymakers and the private sector towards responsible financial inclusion and pro-poor development of digital financial services. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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