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Financial education for female foreign domestic workers in Singapore

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  • Barua, Rashmi
  • Shastry, Gauri Kartini
  • Yang, Dean

Abstract

We evaluate a randomized field experiment to study the effect of financial workshops for domestic workers in Singapore. Groups of women met monthly with a trained mentor. Take-up rates were low and our results are inconclusive as to whether invitations to these workshops improved financial knowledge and behavior. Unexpectedly, treatment assignment had a significant, negative effect on self-reported savings. Further exploration suggests that assignment to treatment could affect participants’ awareness of accumulated savings. We find a reduction in the number of savings accounts reported and an increase in the probability respondents report having disagreements with family members over finances.

Suggested Citation

  • Barua, Rashmi & Shastry, Gauri Kartini & Yang, Dean, 2020. "Financial education for female foreign domestic workers in Singapore," Economics of Education Review, Elsevier, vol. 78(C).
    • Handle: RePEc:eee:ecoedu:v:78:y:2020:i:c:s0272775718304254
    DOI: 10.1016/j.econedurev.2019.101920
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    1. Kaiser, Tim & Lusardi, Annamaria, 2024. "Financial Literacy and Financial Education: An Overview," IZA Discussion Papers 16926, Institute of Labor Economics (IZA).

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