Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/289963 
Year of Publication: 
2023
Series/Report no.: 
IDB Working Paper Series No. IDB-WP-1452
Publisher: 
Inter-American Development Bank (IDB), Washington, DC
Abstract: 
This paper studies whether school-based financial education has spillover effects from children to parents. Leveraging data from a large-scale experiment with public high schools in Peru and credit bureau records on the parents of the youth targeted, this study measures the impact of providing personal finance l essons d uring secondary school on parental financial b ehavior. Financial education lessons in the school yield limited average spillover effects, but lead to sizable effects on parental financial behavior within disadvantaged households. Among parents from poorer households, the treatment reduces default probability by 26%, increases credit scores by 5%, and increases current debt levels by 40%. The treatment has stronger effects among the parents of daughters, who experience a significant 6.7% increase in their credit score and a 28% reduction in their loan portfolio in arrears. Among the parents of boys, most of the spillover effects are muted.
Subjects: 
Financial Education
Youth
Spillovers
Financial Literacy
Credit records,Treatment Effects
Long-lasting impacts
JEL: 
C93
D14
G53
O16
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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