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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/38908
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| Title: | | Remittances, banking status and the usage of insurance schemes  |
| 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. |
| Subjects: | | remittances insurance risk management strategies |
| JEL: | | D14 F24 G22 O16 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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