The Impact of New Technology on the Use of Money as a Means of Spending, Saving and Storing by the Poor

The Impact of New Technology on the Use of Money as a Means of Spending, Saving and Storing by the Poor

2009

South Asia

Sri Lanka

This project involves the administration of a survey in Sri Lanka. The objectives of the study are to ascertain how poor people in Sri Lanka spend, save and store their money; how the introduction of mobile banking might alter these practices; how people perceive modern technology-based banking; the potential for the expansion of communications technology to benefit the poorest people; and policy actions needed to enhance financial inclusion. The research involves a survey instrument and an experienced co-researcher who will rely on an established network of enumerators trained by the government's Department of Census and Statistics. The case at hand is Sri Lanka, an island country in the Indian Ocean characterized by a large rural population, a significant portion of whom live on plantation estates. Mobile telephone penetration is 38% and Rural Community Information Centers have been initiated by the government to try to bring information and communications technologies to villages throughout the country.

Sirimevan S.S. Colombage

Sirimevan S.S. Colombage received his PhD in Economics at the University of Manchester in 1985. He is currently the Chair of Social Studies at the Open University, Sri Lanka. Prof. Sirimevan S. Colombage served the Central Bank of Sri Lanka and Ministry of Finance as a Senior Executive in research and policy planning departments for thirty-one years, was formerly the Director of the Department of Statistics of the Central Bank of Sri Lanka, and has worked closely with the Department of the Census and Statistics.