Arbeitspapier
Financial education affects financial knowledge and downstream behaviors
We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. The evidence shows that financial education programs have, on average, positive causal treatment effects on financial knowledge and downstream financial behaviors. Treatment effects are economically meaningful in size, similar to those realized by educational interventions in other domains and are at least three times as large as the average effect documented in earlier work. These results are robust to the method used, restricting the sample to papers published in top economics journals, including only studies with adequate power, and accounting for publication selection bias in the literature. We conclude with a discussion of the cost-effectiveness of financial education interventions.
- Sprache
-
Englisch
- Erschienen in
-
Series: DIW Discussion Papers ; No. 1864
- Klassifikation
-
Wirtschaft
Household Saving; Personal Finance
Analysis of Education
- Thema
-
financial education
financial literacy
financial behavior
RCT
meta-analysis
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kaiser, Tim
Lusardi, Annamaria
Menkhoff, Lukas
Urban, Carly
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (wo)
-
Berlin
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Kaiser, Tim
- Lusardi, Annamaria
- Menkhoff, Lukas
- Urban, Carly
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2020
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