Saving on the Phone—Evidence from Ghanaian Cocoa Farmers
基于2021年对405名加纳可可种植户的电话调查数据，研究了影响农户储蓄决策和储蓄金额的因素，发现银行账户与更高储蓄额相关，女性更受益于手机储蓄工具，教育对家庭财务管理很重要。
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.