Remittances, banking status and the usage of insurance schemes

Arbeitspapier

Empirical evidence that migrants send home more remittances after disasters raises the question of whether remittances can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a unique data set on the usage patterns of financial services by households in South Africa. We show that the likelihood that a respondent has a formal funeral cover increases with income and banking status. However, it is lower for individuals receiving remittances, which supports the idea that remittances act as (self-) insurance. We also show that purchasing formal funeral cover is influenced by other risk management strategies and that determinants of informal insurance differ from those of formal insurance.

Objekt anzeigen

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CESifo Working Paper ; No. 3117

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Household Saving; Personal Finance ; Remittances ; Insurance; Insurance Companies; Actuarial Studies ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
• Thema: remittances ; insurance ; risk management strategies ; Versicherung ; Konsumentenverhalten ; Rücküberweisung (Migranten) ; Selbstversicherung ; Bankgeschäft ; Haushaltseinkommen ; Lebensversicherung ; Schätzung ; Südafrika

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Crayen, Dorothee ; Hainz, Christa ; Ströh de Martínez, Christiane
• Ereignis: Veröffentlichung
• (wer): Center for Economic Studies and ifo Institute (CESifo)
• (wo): Munich
• (wann): 2010

Weitere Informationen

• Handle: http://hdl.handle.net/10419/38908