Household Financial Assets in the Process of Development

Systematic information on household financial asset holdings in developing countries is very sparse. The author reviews some available data and current policy debates. Although financial asset holdings by households are highly concentrated, deeper financial systems are correlated with improved incom...

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Main Author:	Honohan, Patrick
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ASSETS BALANCE SHEETS BANK DEPOSITS BANKING DEPOSITS BANKING SYSTEM BANKS BORROWING CAPITAL FLIGHT CAPITALIZATION CHECKING ACCOUNTS COLLATERAL COMMERCIAL BANKS CONSUMERS DEBT DEFAULT RISK DEFICITS DEMAND DEPOSITS DEPOSIT PRODUCTS ECONOMETRIC EVIDENCE ECONOMIC GROWTH ECONOMIC LIFE ECONOMIC POWER ELASTICITY EQUITY MARKETS EXPENDITURES FINANCIAL ASSET ACCUMULATION FINANCIAL ASSETS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FIXED COSTS FOREIGN ASSETS GDP GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT SECURITIES HOUSING INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME LEVELS INFLATION INSURANCE INTEREST RATES INVESTABLE FUNDS INVESTMENT PLANNING INVESTOR PROTECTION LIQUID ASSETS MACROECONOMIC STABILITY MARKET RISK MICROFINANCE MORTGAGES MUTUAL FUNDS NATIONAL INCOME OFFSHORE BANKING ONLENDING PENALTIES PER CAPITA INCOME PORTFOLIO PORTFOLIO COMPOSITION PORTFOLIOS PRIVATIZATION PRODUCTIVE ASSETS PRODUCTIVITY PROPERTY RIGHTS RATES OF RETURN REGRESSION ANALYSES RESOURCE MOBILIZATION RETIREMENT ROE SAVINGS SAVINGS BANKS SAVINGS DEPOSITS SAVINGS RATES SAVINGS SCHEMES SECURITIES SMOOTHING CONSUMPTION SUB-SAHARAN AFRICA TAX POLICIES TIME DEPOSITS TRANSACTIONS COSTS TRANSITION ECONOMY WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2006/07/6914008/household-financial-assets-process-development http://hdl.handle.net/10986/8388

id	okr-10986-8388
recordtype	oai_dc
spelling	okr-10986-83882021-04-23T14:02:41Z Household Financial Assets in the Process of Development Honohan, Patrick ASSETS BALANCE SHEETS BANK DEPOSITS BANKING DEPOSITS BANKING SYSTEM BANKS BORROWING CAPITAL FLIGHT CAPITALIZATION CHECKING ACCOUNTS COLLATERAL COMMERCIAL BANKS CONSUMERS DEBT DEFAULT RISK DEFICITS DEMAND DEPOSITS DEPOSIT PRODUCTS ECONOMETRIC EVIDENCE ECONOMIC GROWTH ECONOMIC LIFE ECONOMIC POWER ELASTICITY EQUITY MARKETS EXPENDITURES FINANCIAL ASSET ACCUMULATION FINANCIAL ASSETS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FIXED COSTS FOREIGN ASSETS GDP GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT SECURITIES HOUSING INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME LEVELS INFLATION INSURANCE INTEREST RATES INVESTABLE FUNDS INVESTMENT PLANNING INVESTOR PROTECTION LIQUID ASSETS MACROECONOMIC STABILITY MARKET RISK MICROFINANCE MORTGAGES MUTUAL FUNDS NATIONAL INCOME OFFSHORE BANKING ONLENDING PENALTIES PER CAPITA INCOME PORTFOLIO PORTFOLIO COMPOSITION PORTFOLIOS PRIVATIZATION PRODUCTIVE ASSETS PRODUCTIVITY PROPERTY RIGHTS RATES OF RETURN REGRESSION ANALYSES RESOURCE MOBILIZATION RETIREMENT ROE SAVINGS SAVINGS BANKS SAVINGS DEPOSITS SAVINGS RATES SAVINGS SCHEMES SECURITIES SMOOTHING CONSUMPTION SUB-SAHARAN AFRICA TAX POLICIES TIME DEPOSITS TRANSACTIONS COSTS TRANSITION ECONOMY WEALTH Systematic information on household financial asset holdings in developing countries is very sparse. The author reviews some available data and current policy debates. Although financial asset holdings by households are highly concentrated, deeper financial systems are correlated with improved income distribution. For low-income countries, the relevant question for poor households is not how much financial assets they have, but whether they have any access to financial products at all. Building on and synthesizing disparate data collection efforts by others, the author produces new estimates of access percentages for over 150 countries. Across countries access is negatively correlated with poverty rates, but the correlation is not a robust one: thus the supposed anti-poverty potential of financial access remains econometrically elusive. Despite policy focus on the value of credit instruments, it is deposit products that tend to be the first to be used as prosperity increases, before more sophisticated savings products and borrowing. 2012-06-18T22:35:28Z 2012-06-18T22:35:28Z 2006-07 http://documents.worldbank.org/curated/en/2006/07/6914008/household-financial-assets-process-development http://hdl.handle.net/10986/8388 English Policy Research Working Paper; No. 3965 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ASSETS BALANCE SHEETS BANK DEPOSITS BANKING DEPOSITS BANKING SYSTEM BANKS BORROWING CAPITAL FLIGHT CAPITALIZATION CHECKING ACCOUNTS COLLATERAL COMMERCIAL BANKS CONSUMERS DEBT DEFAULT RISK DEFICITS DEMAND DEPOSITS DEPOSIT PRODUCTS ECONOMETRIC EVIDENCE ECONOMIC GROWTH ECONOMIC LIFE ECONOMIC POWER ELASTICITY EQUITY MARKETS EXPENDITURES FINANCIAL ASSET ACCUMULATION FINANCIAL ASSETS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FIXED COSTS FOREIGN ASSETS GDP GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT SECURITIES HOUSING INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME LEVELS INFLATION INSURANCE INTEREST RATES INVESTABLE FUNDS INVESTMENT PLANNING INVESTOR PROTECTION LIQUID ASSETS MACROECONOMIC STABILITY MARKET RISK MICROFINANCE MORTGAGES MUTUAL FUNDS NATIONAL INCOME OFFSHORE BANKING ONLENDING PENALTIES PER CAPITA INCOME PORTFOLIO PORTFOLIO COMPOSITION PORTFOLIOS PRIVATIZATION PRODUCTIVE ASSETS PRODUCTIVITY PROPERTY RIGHTS RATES OF RETURN REGRESSION ANALYSES RESOURCE MOBILIZATION RETIREMENT ROE SAVINGS SAVINGS BANKS SAVINGS DEPOSITS SAVINGS RATES SAVINGS SCHEMES SECURITIES SMOOTHING CONSUMPTION SUB-SAHARAN AFRICA TAX POLICIES TIME DEPOSITS TRANSACTIONS COSTS TRANSITION ECONOMY WEALTH
spellingShingle	ASSETS BALANCE SHEETS BANK DEPOSITS BANKING DEPOSITS BANKING SYSTEM BANKS BORROWING CAPITAL FLIGHT CAPITALIZATION CHECKING ACCOUNTS COLLATERAL COMMERCIAL BANKS CONSUMERS DEBT DEFAULT RISK DEFICITS DEMAND DEPOSITS DEPOSIT PRODUCTS ECONOMETRIC EVIDENCE ECONOMIC GROWTH ECONOMIC LIFE ECONOMIC POWER ELASTICITY EQUITY MARKETS EXPENDITURES FINANCIAL ASSET ACCUMULATION FINANCIAL ASSETS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FIXED COSTS FOREIGN ASSETS GDP GINI COEFFICIENT GOVERNMENT BONDS GOVERNMENT SECURITIES HOUSING INCOME INCOME DISTRIBUTION INCOME GROUPS INCOME LEVELS INFLATION INSURANCE INTEREST RATES INVESTABLE FUNDS INVESTMENT PLANNING INVESTOR PROTECTION LIQUID ASSETS MACROECONOMIC STABILITY MARKET RISK MICROFINANCE MORTGAGES MUTUAL FUNDS NATIONAL INCOME OFFSHORE BANKING ONLENDING PENALTIES PER CAPITA INCOME PORTFOLIO PORTFOLIO COMPOSITION PORTFOLIOS PRIVATIZATION PRODUCTIVE ASSETS PRODUCTIVITY PROPERTY RIGHTS RATES OF RETURN REGRESSION ANALYSES RESOURCE MOBILIZATION RETIREMENT ROE SAVINGS SAVINGS BANKS SAVINGS DEPOSITS SAVINGS RATES SAVINGS SCHEMES SECURITIES SMOOTHING CONSUMPTION SUB-SAHARAN AFRICA TAX POLICIES TIME DEPOSITS TRANSACTIONS COSTS TRANSITION ECONOMY WEALTH Honohan, Patrick Household Financial Assets in the Process of Development
relation	Policy Research Working Paper; No. 3965
description	Systematic information on household financial asset holdings in developing countries is very sparse. The author reviews some available data and current policy debates. Although financial asset holdings by households are highly concentrated, deeper financial systems are correlated with improved income distribution. For low-income countries, the relevant question for poor households is not how much financial assets they have, but whether they have any access to financial products at all. Building on and synthesizing disparate data collection efforts by others, the author produces new estimates of access percentages for over 150 countries. Across countries access is negatively correlated with poverty rates, but the correlation is not a robust one: thus the supposed anti-poverty potential of financial access remains econometrically elusive. Despite policy focus on the value of credit instruments, it is deposit products that tend to be the first to be used as prosperity increases, before more sophisticated savings products and borrowing.
format	Publications & Research :: Policy Research Working Paper
author	Honohan, Patrick
author_facet	Honohan, Patrick
author_sort	Honohan, Patrick
title	Household Financial Assets in the Process of Development
title_short	Household Financial Assets in the Process of Development
title_full	Household Financial Assets in the Process of Development
title_fullStr	Household Financial Assets in the Process of Development
title_full_unstemmed	Household Financial Assets in the Process of Development
title_sort	household financial assets in the process of development
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2006/07/6914008/household-financial-assets-process-development http://hdl.handle.net/10986/8388
_version_	1764406394271825920

Household Financial Assets in the Process of Development

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