The Impact of Financial Literacy Training for Migrants
AbstractRemittances are a major source of external finance for many developing countries but the cost of sending remittances remains high for many migration corridors. International efforts to lower costs by facilitating the entry of new financial products and new cost comparison information sources rely heavily on the financial literacy of migrants. This paper presents the results of a randomized experiment designed to measure the impact of providing financial literacy training to migrants. Training appears to increase financial knowledge and information seeking behavior and reduces the risk of switching to costlier remittance products but does not change either the frequency or level of remittances.
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Bibliographic InfoPaper provided by Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London in its series CReAM Discussion Paper Series with number 1216.
Date of creation: May 2012
Date of revision:
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More information through EDIRC
Financial literacy; Remittances; Migration.;
Other versions of this item:
- Gibson, John & McKenzie, David & Zia, Bilal, 2012. "The impact of financial literacy training for migrants," Policy Research Working Paper Series 6073, The World Bank.
- F24 - International Economics - - International Factor Movements and International Business - - - Remittances
- O12 - Economic Development, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-06-05 (All new papers)
- NEP-MFD-2012-06-05 (Microfinance)
- NEP-MIG-2012-06-05 (Economics of Human Migration)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Carpena, Fenella & Cole, Shawn & Shapiro, Jeremy & Zia, Bilal, 2011. "Unpacking the causal chain of financial literacy," Policy Research Working Paper Series 5798, The World Bank.
- David J. McKenzie & Johan Mistiaen, 2009.
"Surveying migrant households: a comparison of census-based, snowball and intercept point surveys,"
Journal of the Royal Statistical Society Series A,
Royal Statistical Society, vol. 172(2), pages 339-360.
- McKenzie, David J. & Mistiaen, Johan, 2007. "Surveying migrant households : a comparison of census-based, snowball, and intercept point surveys," Policy Research Working Paper Series 4419, The World Bank.
- McKenzie, David & Mistiaen, Johan, 2007. "Surveying Migrant Households: A Comparison of Census-Based, Snowball, and Intercept Point Surveys," IZA Discussion Papers 3173, Institute for the Study of Labor (IZA).
- John Gibson & Geua Boe-Gibson & Halahingano Rohorua & David McKenzie, 2007. "Efficient remittance services for development in the Pacific," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 14(2), pages 55-74, December.
- John Gibson & David McKenzie & Steven Stillman, 2013.
"Accounting for Selectivity and Duration-Dependent Heterogeneity When Estimating the Impact of Emigration on Incomes and Poverty in Sending Areas,"
Economic Development and Cultural Change,
University of Chicago Press, vol. 61(2), pages 247 - 280.
- Gibson, John & McKenzie, David & Stillman, Steven, 2010. "Accounting for selectivity and duration-dependent heterogeneity when estimating the impact of emigration on incomes and poverty in sending areas," Policy Research Working Paper Series 5268, The World Bank.
- Lührmann, Melanie & Serra-Garcia, Marta & Winter, Joachim, 2012. "The effects of financial literacy training: Evidence from a field experiment with German high-school children," Discussion Papers in Economics 14101, University of Munich, Department of Economics.
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