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Title:Remittances, banking status and the usage of insurance schemes PDF Logo
Authors:Crayen, Dorothee
Hainz, Christa
Ströh de Martínez, Christiane
Issue Date:2010
Series/Report no.:CESifo working paper Empirical and Theoretical Methods 3117
Abstract: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.
risk management strategies
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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