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Financial Education and Financial Access for Transnational Households: Field Experimental Evidence from the Philippines

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  • Paolo Abarcar
  • Rashmi Barua
  • Dean Yang

Abstract

We implemented a randomized controlled trial among transnational households in the Philippines estimating impacts of a financial education treatment, a financial access treatment, and the combination of the two on financial behaviors. We test whether there are complementarities between both interventions and provide insight into the nature of constraints operating in financial services markets. We find no evidence of complementarities between the financial education and access treatments. In addition, while we find no evidence of constraints in access to formal credit and savings products, our results suggest that access constraints exist in the formal insurance market. Impacts on other financial behaviors are suggestive of the importance of information constraints in financial decision-making. These results provide guidance to designers of financial interventions in similar populations.

Suggested Citation

  • Paolo Abarcar & Rashmi Barua & Dean Yang, 2020. "Financial Education and Financial Access for Transnational Households: Field Experimental Evidence from the Philippines," Economic Development and Cultural Change, University of Chicago Press, vol. 69(1), pages 373-404.
    • Handle: RePEc:ucp:ecdecc:doi:10.1086/703045
    DOI: 10.1086/703045
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    Cited by:

    1. Bertoli, Simone & Gautrain, Elsa & Murard, Elie, 2020. "Left Behind, but Not Alone: Changes in Living Arrangements and the Effects of Migration and Remittances in Mexico," IZA Discussion Papers 13917, Institute of Labor Economics (IZA).
    2. De Arcangelis, Giuseppe & Fertig, Alexander & Liang, Yuna & Srouji, Peter & Yang, Dean, 2023. "Measuring remittances," Journal of Development Economics, Elsevier, vol. 161(C).
    3. Karlan, Dean & Horn, Samantha & Jamison, Julian C. & Zinman, Jonathan, 2020. "Does lasting behavior change require knowledge change? Evidence from savings interventions for young adults," CEPR Discussion Papers 15392, C.E.P.R. Discussion Papers.
    4. Cuadros-Meñaca, Andres, 2020. "Remittances, health insurance, and pension contributions: Evidence from Colombia," World Development, Elsevier, vol. 127(C).
    5. Antonia Grohmann & Lukas Menkhoff, 2020. "The Relationship between Financial Literacy and Financial Inclusion," Discussion Papers of DIW Berlin 1914, DIW Berlin, German Institute for Economic Research.

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