Savings Mobilization in the Third World: A Case Study of Peru

摘要

Governments of developing countries often justify policies mandating low loan and deposit interest rates on the grounds that low-income rural dwellers are unable to save. Arguing to the contrary, this analysis of the highly successful AID-BANCOOP savings mobilization program in Peru concludes that there is a significant potential for savings mobilization in rural areas in developing countries. After surveying the pattern of savings mobilization for all of BANCOOP's operations in Peru, the paper uses census data to describe the economic environment in the savings program's three target offices. The organization of the savings campaigns, which offered depositors realistic rates of return (30-35%) as well as prizes and/or raffle tickets, is then discussed and data on aggregate balances mobilized at each office are presented.