Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?

Kaiser, Tim ; Menkhoff, Lukas

World Bank, Washington, DC

关键词: FINANCIAL INCLUSION;    FINANCIAL LITERACY;    FINANCIAL EDUCATION;    FINANCIAL BEHAVIOR;    META-ANALYSIS;   

DOI  :  10.1596/1813-9450-8161
RP-ID  :  WPS8161

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

A meta-analysis of 126 impact evaluationstudies finds that financial education significantly impactsfinancial behavior and, to an even larger extent, financialliteracy. These results also hold for the subsample ofrandomized experiments (RCTs). However, intervention impactsare highly heterogeneous: financial education is lesseffective for low-income clients as well as in low- andlower-middle income economies. Specific behaviors, such asthe handling of debt, are more difficult to influence andmandatory financial education tentatively appears to be lesseffective. Thus, intervention success depends crucially onincreasing education intensity and offering financialeducation at a "teachable moment."