The ABCs of Financial Education : Experimental Evidence on Attitudes, Behavior, and Cognitive Biases

Carpena, Fenella ; Cole, Shawn ; Shapiro, Jeremy ; Zia, Bilal

World Bank, Washington, DC

关键词: financial literacy;    financial education;    access to finance;    financial counseling;   

RP-ID  :  112655

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Financial literacy - the ability to makeinformed decisions regarding money - plays a critical rolein ensuring both the well-being of households and thestability of the financial system. Consequently, numerousprivate institutions, non-profit organizations, andgovernments have responded by implementing financialeducation programs. However, empirical evidence on theefficacy of such programs provides only mixed results, andlittle is known about which aspects of financial educationinitiatives successfully enhance financial behavior andfinancial outcomes. The authors combined financial educationwith cash incentives for learning, non-compulsorygoal-setting, and personalized financial counseling servicesto study the attitudinal, behavioral, and cognitiveconstraints that can stymie the link between financialeducation and outcomes.