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The effects of financial literacy training: Evidence from a field experiment in German high schools

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  • Winter, Joachim
  • Lührmann, Melanie
  • Serra-Garcia, Marta

Abstract

We report the results of a field experiment evaluating the impact of financial literacy training on teenagers between 14 and 16 years in German high schools. After the training, treated teenagers exhibit a significant increase in both interest in financial matters and self-assessed knowledge relative to the control group. We also find a strong decrease in the prevalence of impulse purchases after the training, suggesting that teenagers become more sovereign consumers. Our data reveals strong gender differences in financial matters already before adulthood: Girls show less interest in and self-assessed knowledge about financial matters, and are less likely to save.

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Bibliographic Info

Paper provided by University of Munich, Department of Economics in its series Munich Reprints in Economics with number 19722.

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Date of creation: 2013
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Publication status: Published in Beiträge zur Jahrestagung des Vereins für Socialpolitik 2013: Wettbewerbspolitik und Regulierung in einer globalen Wirtschaftsordnung - Session: Household Behavior C12-V2 (2013)
Handle: RePEc:lmu:muenar:19722

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  1. Gibson, John & McKenzie, David & Zia, Bilal, 2012. "The impact of financial literacy training for migrants," Policy Research Working Paper Series 6073, The World Bank.
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  16. Leonardo Becchetti & Stefano Caiazza & Decio Coviello, 2011. "Financial education and investment attitudes in high schools: evidence from a randomized experiment," CEIS Research Paper 210, Tor Vergata University, CEIS, revised 07 Sep 2011.
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