Is School-Based Financial Education Effective? Immediate and Long-Lasting Impacts on High School Students

• 成果类型: Article
• 署名作者: Frisancho, Veronica
• 署名单位: Inter-American Development Bank
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1093/ej/ueac084
• 发表日期: 2023
• 页码: 1147-1180
• 关键词: literacy; curriculum; KNOWLEDGE; BEHAVIOR

摘要

Relying on a large-scale experiment in Peru, this study evaluates the effects of an in-class intervention on financial literacy and financial behaviour. As soon as the programme is over, treated students record significant financial literacy gains that do not hinder their academic performance. The programme also leads to immediate changes in downstream financial behaviour as measured by financial autonomy and financial savviness. Credit bureau records gathered three years later show that early improvements in financial literacy translate into limited, but positive long-lasting changes in financial behaviour. The treatment did not affect students' credit or repayment behaviour on the extensive margin, but, among those few with outstanding loans, it reduced arrears by 20%.