Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/130216
Authors: 
Kaiser, Tim
Menkhoff, Lukas
Year of Publication: 
2016
Series/Report no.: 
DIW Discussion Papers 1562
Abstract: 
In a meta-regression analysis of 115 microeconometric impact evaluation studies we find that financial education significantly impacts financial behavior, and to an even larger extent financial literacy. These results also hold for the subsample of RCTs. However, intervention impacts are highly heterogeneous: Financial education is less effective in low- and medium income countries; some target groups, such as low-income clients, or specific behaviors, such as borrowing, are difficult to influence; also mandatory financial education appears to be less effective. Thus, it is even more crucial for success to increase training intensity and offer financial education at a 'teachable moment'.
Subjects: 
financial education
financial literacy
financial behavior
metaanalysis
meta-regression
impact evaluation
JEL: 
D14
I21
Document Type: 
Working Paper

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