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On the effect of financial education on financial literacy: evidence from a sample of college students

Author

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  • Brugiavini, Agar
  • Cavapozzi, Danilo
  • Padula, Mario
  • Pettinicchi, Yuri

Abstract

Based on a sample of university students, we provide evidence that a small-scale training intervention has both a statistically and economically significant effect on subjective and objective assessments of financial knowledge. We also show that the intervention increases self-assessed more than actual financial knowledge. The intervention consists of measuring financial literacy before and after a small on-line course and is administered through an on-line platform.

Suggested Citation

  • Brugiavini, Agar & Cavapozzi, Danilo & Padula, Mario & Pettinicchi, Yuri, 2020. "On the effect of financial education on financial literacy: evidence from a sample of college students," Journal of Pension Economics and Finance, Cambridge University Press, vol. 19(3), pages 344-352, July.
    • Handle: RePEc:cup:jpenef:v:19:y:2020:i:3:p:344-352_4
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    Cited by:

    1. Hooman Estelami & Nicole N. Estelami, 2024. "The differential impact of cognitive style on the relationship between financial education and financial literacy," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 242-256, June.
    2. Bucciol, Alessandro & Quercia, Simone & Sconti, Alessia, 2021. "Promoting financial literacy among the elderly: Consequences on confidence," Journal of Economic Psychology, Elsevier, vol. 87(C).
    3. Oberrauch, Luis & Kaiser, Tim, 2024. "Digital Interventions to Increase Financial Knowledge: Evidence from a Pilot RCT," IZA Discussion Papers 16811, Institute of Labor Economics (IZA).
    4. Luis Oberrauch & Tim Kaiser, 2024. "Financial Education or Incentivizing Learning-by-Doing? Evidence from an RCT with Undergraduate Students," CESifo Working Paper Series 11187, CESifo.
    5. Agasisti, Tommaso & Barucci, Emilio & Cannistrà, Marta & Marazzina, Daniele & Soncin, Mara, 2023. "Online or on-campus? Analysing the effects of financial education on student knowledge gain," Evaluation and Program Planning, Elsevier, vol. 98(C).
    6. Bu, Di & Hanspal, Tobin & Liao, Yin & Liu, Yong, 2020. "Financial literacy and self-control in FinTech: Evidence from a field experiment on online consumer borrowing," SAFE Working Paper Series 273, Leibniz Institute for Financial Research SAFE.

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