Local ambassadors promote mobile banking in Northern Peru

Marcos Agurto, Habiba Djebbari and Sudipta Sarangi

Abstract: We experiment with a novel way to boost information acquisition that exploits existing social ties between the promoter of a new financial technology and community members. We offer information and training workshops on a new mobile-money platform in peri-urban and rural areas in Peru. In the treatment group, workshops are led by promoters who are personally known to the invited participants. In the control group, comparable individuals are invited to attend similar workshops, but the workshops are led by agents external to the community. Our findings suggest that lack of information impedes product adoption, which is itself limited by lack of trust in the individual who provides the information.

Keywords: Financial inclusion; social networks; information transmission; trust (search for similar items in EconPapers)
JEL-codes: D91 G23 I22 I31 O33 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-dev, nep-fle, nep-mfd, nep-pay and nep-soc
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Working Paper: Local ambassadors promote mobile banking in Northern Peru (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:lvl:piercr:2020-04

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