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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
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:
Contact details of provider:
Postal: Drayton House, 30 Gordon Street, London WC1H 0AX
Phone: +44 (0)20 7679 5888
Fax: +44 (0)20 7916 2775
Web page: http://www.cream-migration.org/
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 & 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).
- 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.
- 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.
- 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.
- 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.
- Dean Karlan & Jonathan Zinman, 2008. "Lying About Borrowing," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 510-521, 04-05.
- Miller, Margaret & Reichelstein, Julia & Salas, Christian & Zia, Bilal, 2014. "Can you help someone become financially capable ? a meta-analysis of the literature," Policy Research Working Paper Series 6745, The World Bank.
- Wasana Karunarathne & John Gibson, 2013.
"Financial Literacy and Remittance Behavior of Skilled and Unskilled Immigrant Groups in Australia,"
Department of Economics - Working Papers Series
1170, The University of Melbourne.
- Karunarathne, Wasana & Gibson, John, 2014. "Financial literacy and remittance behavior of skilled and unskilled immigrant groups in Australia," Journal of Asian Economics, Elsevier, vol. 30(C), pages 54-62.
- Lührmann, Melanie & Serra-Garcia, Marta & Winter, Joachim, 2012. "Teaching teenagers in finance: does it work?," Discussion Papers in Economics 14101, University of Munich, Department of Economics.
- Winter, Joachim & Lührmann, Melanie & Serra Garcia, Marta, 2013.
"The effects of financial literacy training: Evidence from a field experiment in German high schools,"
Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order
79744, Verein für Socialpolitik / German Economic Association.
- Winter, Joachim & Lührmann, Melanie & Serra-Garcia, Marta, 2013. "The effects of financial literacy training: Evidence from a field experiment in German high schools," Munich Reprints in Economics 19722, University of Munich, Department of Economics.
- John Gibson & Riccardo Scarpa & Halahingano Rohorua, 2013. "Respiratory Health of Pacific Island Immigrants and Preferences for Indoor Air Quality Determinants in New Zealand," Working Papers in Economics 13/09, University of Waikato, Department of Economics.
- Bruhn, Miriam & Lara Ibarra, Gabriel & McKenzie, David, 2013. "Why is voluntary financial education so unpopular ? Experimental evidence from Mexico," Policy Research Working Paper Series 6439, The World Bank.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CReAM Administrator) or (Thomas Cornelissen).
If references are entirely missing, you can add them using this form.