Household economic strengthening through financial and psychosocial programming: Evidence from a field experiment in South Africa

• 成果类型: Article
• 署名作者: Steinert, Janina Isabel; Cluver, Lucie Dale; Meinck, Franziska; Doubt, Jenny; Vollmer, Sebastian
• 署名单位: University of Oxford; University of Cape Town; North West University - South Africa; University of Gottingen; University of Gottingen; Harvard University; Harvard T.H. Chan School of Public Health
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2018.06.016
• 发表日期: 2018
• 页码: 443-466
• 关键词: financial literacy; Saving; Parenting; RCT; South Africa

摘要

Using data from a randomized field experiment with 552 households, nested within 40 villages and townships in South Africa, we examine the impact of a brief financial literacy training that was integrated into a broader psychosocial parenting intervention. Based on self-reported measures, we document significant improvements in financial behaviors, including higher saving and lower borrowing rates. We also see wider implications for household economic welfare, demonstrated by reduced self-reported financial distress, better resilience to economic shocks, and a greater capacity to securing basic needs. We argue that program impact may run through three effect channels, namely improved self-efficacy, higher family and community social support, and greater optimism. Overall, our findings suggest that hybrid program curricula that offer combinations of financial and psychosocial components can add value to stand-alone financial literacy training.