Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/86140
Authors: 
Denes, Andrés
Maya, Carlos
Repetto, Gastón
Grosman, Nicolas
Year of Publication: 
2011
Series/Report no.: 
Working Paper, Central Bank of Argentina (BCRA) 2011/51
Abstract (Translated): 
In order to promote public policies aimed at enhancing financial inclusion, the Central Bank of Argentina makes periodic efforts to study, measure and analyze the processes of access and use of financial services by households in Argentina. The main objective of this paper is to use the information gathered by INDEC's Permanent Household Survey to explore the use of credit (from both formal and informal financial providers) and dissaving to understand the determinants of household financial behavior. Using multivariate probit models, we document the effects of different demographic and socio-economic variables on the estimated probability of adopting certain financial behaviors. These models can also be a statistically appropriate way to analyze the simultaneous determination of different observed actions in households' financial management. Thus, controlling for a set of exogenous variables while adding explanatory variables as endogenous regressors, we show that the inclusion of the latter is both statistically relevant and useful in identifying the existence of substitutability between some financial behaviors and of complementarity among others.
Subjects: 
Argentina
financial services
financial behavior of families
household surveys
multivariate probit
JEL: 
C31
G20
R29
Document Type: 
Working Paper

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