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Resilience and Account Ownership

This past week’s Garment Worker Diaries blog was the second in a series of blogs on economic resilience. It focuses on the relationship between resilience and the ownership of a digital financial account. It is based on analysis we conducted on the relationship between resilience and account ownership and suggests that the latter can improve the former—workers in the RMG sector who had an account prior to April 2020 were better able to bounce back from the crisis they experienced in April than other workers.

This result holds after taking into account the income, other cash flows, and important characteristics of the workers. The blog ends with some suggestions about why this might be the case drawing on a paper by Breza, Kanz, and Klapper. Next week’s blog will explore more deeply the connection between account ownership and resilience.

We hope you’ll check out the full blog, and if you have any questions for us or the workers, please write to

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