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Financial education and spillover effects

Author

Listed:
  • Theodosis Kallenos

    (University of Cyprus
    Central Bank of Cyprus)

  • Andreas Milidonis

    (University of Cyprus)

  • George Nishiotis

    (University of Cyprus)

  • Stavros Zenios

    (University of Cyprus
    Durham University
    Cyprus Academy of Sciences, Letters, and Arts
    Bruegel)

Abstract

Using a newly introduced, semester-long university course on financial education in Cyprus, a country of low financial literacy, we find evidence of financial knowledge spillovers from university students to their parents. We measure the financial knowledge score of students and parents before and after the introduction of the course, using both a treatment and a control sample. The spillover effect is economically significant, and it is driven by the subsample of students who have frequent face-to-face interaction with their parents.

Suggested Citation

  • Theodosis Kallenos & Andreas Milidonis & George Nishiotis & Stavros Zenios, 2025. "Financial education and spillover effects," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 52(2), pages 243-271, May.
    • Handle: RePEc:kap:empiri:v:52:y:2025:i:2:d:10.1007_s10663-025-09647-1
    DOI: 10.1007/s10663-025-09647-1
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    More about this item

    Keywords

    Financial education; Financial literacy; Spillover; University course;
    All these keywords.

    JEL classification:

    • G53 - Financial Economics - - Household Finance - - - Financial Literacy

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