n AfricaGrowth Agenda - Access to financial services and poverty : perspectives from South African household data

Volume 2015, Issue 10
  • ISSN : 1811-5187


The paper uses the South African case to examine the effect of access to financial services on income poverty. The results indicate that access to formal financial services is positively correlated with lower levels of poverty. Access to credit has a greater effect on poverty reduction than access to savings and payment services, suggesting that policy design should focus on the reduction of information, enforcement, and transactions costs. Access to financial services has a greater effect on poverty reduction in female headed households.

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