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Part 1: Document Description
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Citation |
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Title: |
Tying Odysseus to the Mast: Evidence from a Commitment Savings Product in the Philippines |
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Identification Number: |
doi:10.7910/DVN/27854 |
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Distributor: |
Harvard Dataverse |
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Date of Distribution: |
2014-11-25 |
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Version: |
2 |
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Bibliographic Citation: |
Ashraf, Nava; Karlan, Dean; Yin, Wesley, 2014, "Tying Odysseus to the Mast: Evidence from a Commitment Savings Product in the Philippines", https://doi.org/10.7910/DVN/27854, Harvard Dataverse, V2 |
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Citation |
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Title: |
Tying Odysseus to the Mast: Evidence from a Commitment Savings Product in the Philippines |
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Identification Number: |
doi:10.7910/DVN/27854 |
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Authoring Entity: |
Ashraf, Nava (Harvard University) |
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Karlan, Dean (Yale University) |
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Yin, Wesley (Boston University) |
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Distributor: |
Harvard Dataverse |
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Distributor: |
Innovations for Poverty Action |
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Access Authority: |
Research Transparency, Data Ethics, and Governance |
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Date of Deposit: |
2014-11-19 |
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Date of Distribution: |
2014 |
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Holdings Information: |
https://doi.org/10.7910/DVN/27854 |
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Study Scope |
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Keywords: |
Social Sciences, Finance, Commitment Devices, Financial Capability, Savings, Global Financial Inclusion |
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Abstract: |
We designed a commitment savings product for a Philippine bank and implemented it using a randomized control methodology. The savings product was intended for individuals who want to commit now to restrict access to their savings, and who were sophisticated enough to engage in such a mechanism. We conducted a baseline survey on 1777 existing or former clients of a bank. One month later, we offered the commitment product to a randomly chosen subset of 710 clients; 202 (28.4%) accepted the offer and opened the account. In the baseline survey, we asked hypothetical time discounting questions. Women who exhibited a lower discount rate for future relative to current trade-offs, and hence potentially have a preference for commitment, were indeed significantly more likely to open the commitment savings account. After twelve months, average savings balances increased by 81 percentage points for those clients assigned to the treatment group relative to those assigned to the control group. We conclude that the savings response represents a lasting change in savings, and not merely a short-term response to a new product. |
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Date of Collection: |
2003-08-2004-08 |
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Country: |
Philippines |
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Geographic Coverage: |
Mindanao |
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Unit of Analysis: |
Individual |
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Universe: |
Existing or former clients of Green Bank of Caraga, a rural bank in Mindanao, Philippines. |
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Kind of Data: |
Survey data, Administrative Data |
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Methodology and Processing |
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Sampling Procedure: |
Our sample for the field experiment consists of 4001 adult Green Bank cl ients who have savings accounts in one of two bank branches in the greater Butuan City area, and who have identifiable addresses. We randomly assigned these individuals to three groups: commitment-treatment (T), marketing-treatment (M), and control (C) groups. One-half the sample was randomly assigned to T, and a quarter of the sample each were randomly assigned to groups M and C. We verified at the time of the randomization that the three groups were not statistically significantly different in terms of preexisting financial and demographic data. |
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Mode of Data Collection: |
In-person interviews |
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Sources Statement |
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Data Access |
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Notes: |
<a href="http://creativecommons.org/publicdomain/zero/1.0">CC0 1.0</a> |
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Other Study Description Materials |
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Related Publications |
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Citation |
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Title: |
Ashraf, N., Karlan, D., and Yin, W., 2006, "Tying Odysseus to the Mast: Evidence from a Commitment Savings Product in the Philippines." Quarterly Journal of Economics 121(2): 635-672. |
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Identification Number: |
10.1162/qjec.2006.121.2.635 |
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Bibliographic Citation: |
Ashraf, N., Karlan, D., and Yin, W., 2006, "Tying Odysseus to the Mast: Evidence from a Commitment Savings Product in the Philippines." Quarterly Journal of Economics 121(2): 635-672. |
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Label: |
Master.do |
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Text: |
Runs two other do-files to produce output |
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Notes: |
text/x-stata-syntax; charset=US-ASCII |
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Label: |
ReadMe.docx |
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Text: |
ReadMe file |
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Notes: |
application/vnd.openxmlformats-officedocument.wordprocessingml.document |
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Label: |
SEED Baseline Survey.doc |
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Text: |
Baseline Survey |
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Notes: |
application/msword |
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Label: |
SEED Followup Survey.doc |
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Text: |
Endline Survey |
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Notes: |
application/msword |
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Label: |
SEED Zip.zip |
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Text: |
Zip file containing all surveys, data, code and ReadMe file. |
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Notes: |
application/zip |
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Label: |
SEED.QJEtable.impact.do |
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Text: | |
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Notes: |
text/x-stata-syntax; charset=US-ASCII |
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Label: |
SEED.QJEtables.takeup.do |
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text/x-stata-syntax; charset=US-ASCII |
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Label: |
seedanalysis_011204_080404_1.dta |
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Notes: |
application/x-stata |
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Label: |
seedanalysis_011204_1.dta |
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Notes: |
application/x-stata |
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Label: |
seedanalysis_080404_1.dta |
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Text: | |
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Notes: |
application/x-stata |