Abstract
This study analyzes the impact of the use of mobile banking services on saving behavior in West Africa. Using the Global Findex Database, 2017 and jointly estimating a multinomial logit model and a probit model, we find that the use of mobile banking services increases the likelihood of formal and informal saving by 2.4% and 0.83% respectively. Women are likelier to have informal savings, but their likelihood of having formal savings increases if they use mobile banking services. Greater education, employment (especially in the public sector), and income increase the likelihood of adopting mobile banking services. These results suggest that the partnership between mobile phone structures and financial institutions should be strengthened.
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