Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program.

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  • Author(s): Doering, Laura B.; McNeill, Kristen
  • Source:
    American Sociological Review (AM SOCIOL REV), Jun2020; 85(3): 417-450. (34p)
  • Publication Type:
    Article - pictorial, research, tables/charts, teaching materials
  • Language:
    English
  • Additional Information
    • Affiliation:
      University of Toronto
      Brown University
    • Subject Terms:
    • Subject Terms:
    • Abstract:
      Access to formal financial products like savings accounts constitutes a hallmark feature of economic development, but individuals do not uniformly embrace these products. In explaining such financial preferences, scholars have focused on institutional, cultural, and material factors, but they have paid less attention to organizations and small groups. In this article, we argue that these factors are crucial to understanding financial preferences. We investigate a government-sponsored microsavings program in Colombia and find that participants became less interested in banking services over the course of the program, even as they gained access to appropriate accounts and their savings increased. Turning to qualitative data to understand this curious finding, we show that organizational efforts to disseminate abstract information about banking triggered a process of "elaboration" among group members, leading many to develop financial preferences at odds with those promoted by the government. This study integrates insights from economic sociology, organizational theory, and microsociology to advance theories of financial preference. In doing so, we reveal how organizational efforts to compress information, followed by group efforts to personalize and expand upon the information, can shape preferences and potentially undermine organizational goals.
    • Journal Subset:
      Biomedical; USA
    • ISSN:
      0003-1224
    • MEDLINE Info:
      NLM UID: 0370515
    • Publication Date:
      20200622
    • Publication Date:
      20200622
    • DOI:
      http://dx.doi.org/10.1177/0003122420920647
    • Accession Number:
      143828296
  • Citations
    • ABNT:
      DOERING, L. B.; MCNEILL, K. Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program. American Sociological Review, [s. l.], v. 85, n. 3, p. 417–450, 2020. DOI 10.1177/0003122420920647. Disponível em: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=rzh&AN=143828296. Acesso em: 13 ago. 2020.
    • AMA:
      Doering LB, McNeill K. Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program. American Sociological Review. 2020;85(3):417-450. doi:10.1177/0003122420920647
    • APA:
      Doering, L. B., & McNeill, K. (2020). Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program. American Sociological Review, 85(3), 417–450. https://doi.org/10.1177/0003122420920647
    • Chicago/Turabian: Author-Date:
      Doering, Laura B., and Kristen McNeill. 2020. “Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program.” American Sociological Review 85 (3): 417–50. doi:10.1177/0003122420920647.
    • Harvard:
      Doering, L. B. and McNeill, K. (2020) ‘Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program’, American Sociological Review, 85(3), pp. 417–450. doi: 10.1177/0003122420920647.
    • Harvard: Australian:
      Doering, LB & McNeill, K 2020, ‘Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program’, American Sociological Review, vol. 85, no. 3, pp. 417–450, viewed 13 August 2020, .
    • MLA:
      Doering, Laura B., and Kristen McNeill. “Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program.” American Sociological Review, vol. 85, no. 3, June 2020, pp. 417–450. EBSCOhost, doi:10.1177/0003122420920647.
    • Chicago/Turabian: Humanities:
      Doering, Laura B., and Kristen McNeill. “Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program.” American Sociological Review 85, no. 3 (June 2020): 417–50. doi:10.1177/0003122420920647.
    • Vancouver/ICMJE:
      Doering LB, McNeill K. Elaborating on the Abstract: Group Meaning-Making in a Colombian Microsavings Program. American Sociological Review [Internet]. 2020 Jun [cited 2020 Aug 13];85(3):417–50. Available from: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=rzh&AN=143828296