Publication

This paper lays out five sets of constraints that may hinder the adoption and effective use of savings products and services by the poor. These include 1) transaction costs, 2) lack of trust and regulatory barriers, 3) information and knowledge gaps, 4) social constraints, and 5) behavioral biases. The authors examine these constraints in theory and then provide supporting empirical evidence for each. They conclude by outlining key open areas for further research and practice on this topic.