New savings from old innovations: asset building for the less affluent

Schneider, Daniel and Tufano, Peter (2004) New savings from old innovations: asset building for the less affluent. In: Community Development Finance Research Conference, 2004.

Abstract

In this paper, we review data on U.S. household savings, especially by less-affluent
households, discuss theories of savings, and the impediments to savings. These
impediments are a combination of factors that influence behavior by households and
financial service firms. We discuss a number of innovations, largely adapted from
experience with more-affluent financial service consumers, that might increase savings.
These innovations either stimulate the demand for savings by providing incentives for
families to save or making it easier for them to save; or they stimulate the supply of
savings by making it easier or more cost effective for business organizations to serve
this population.

Item Type: Conference or Workshop Item (Paper)
Keywords: investments; savings; financial services
Date Deposited: 27 Oct 2011 16:25
Last Modified: 07 Oct 2015 05:45
URI: http://eureka.sbs.ox.ac.uk/id/eprint/944

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