ROSCAs in Urban Ethiopia: Are the Characteristics of the Institutions More Important than those of Members?
利用埃塞俄比亚城市家庭数据，检验轮转储蓄与信贷协会的经济理论，发现成员特征显著影响储蓄，而机构特征影响不显著。
Abstract Using household data from urban Ethiopia, we provide an empirical test of the economic theory of Rotating Savings and Credit Associations (ROSCAs) and identify the impact of ROSCAs and member characteristics on participation and volume of saving. Unlike other studies, we account for the endogeneity of all ROSCA variables. Muslims, individuals who live in richer households, the self-employed, private sector employees and households with large numbers of women are more likely to join ROSCAs. A robust finding is that the savings are significantly affected by the characteristics of the members but not that of the informal saving institution. Some policy implications are discussed.