August 2012
Kerry Brennan
Across low income countries, there is great variation in formal account penetration
Although there is an overall positive relationship between GDP per capita and rates of account holding among coun- tries in the sample, differences of twenty percentage points or more are not uncommon be- tween countries with similar income levels. For example, over 40% of residents of Kenya have a formal account while less than 10% of Benin’s residents do.