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Accelerating the impact of financial literacy training programmes on household consumption by empowering women

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  • Isaac Koomson
  • Renato Andrin Villano
  • David Hadley

Abstract

This study examines the impact of a joint financial literacy and women’s empowerment training programme on household consumption as a welfare indicator. Using data collected from a randomized controlled trial implemented in Ghana, we tested for baseline balance and applied ordinary least squares to estimate endline impact. Our findings revealed that the impact of financial literacy on household consumption is influenced by the design and delivery of the programme. A weaker impact is achieved when financial literacy training is offered alone. The ensuing stronger short-term impact of financial literacy training on household consumption is achieved through the inclusion of a women’s empowerment module. The joint delivery of the programme significantly improved household consumption for female-beneficiary and younger households. We advocate the inclusion of women’s empowerment training in financial literacy training programmes to accelerate its impact on household welfare through increased household consumption

Suggested Citation

  • Isaac Koomson & Renato Andrin Villano & David Hadley, 2021. "Accelerating the impact of financial literacy training programmes on household consumption by empowering women," Applied Economics, Taylor & Francis Journals, vol. 53(29), pages 3359-3376, June.
    • Handle: RePEc:taf:applec:v:53:y:2021:i:29:p:3359-3376
    DOI: 10.1080/00036846.2021.1878093
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    Cited by:

    1. Isaac Koomson & Abdallah Abdul-Mumuni & Anthony Abbam, 2021. "Effect of financial inclusion on out-of-pocket health expenditure: empirics from Ghana," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 22(9), pages 1411-1425, December.
    2. Isaac Koomson & Renato A. Villano & David Hadley, 2023. "The role of financial literacy in households’ asset accumulation process: evidence from Ghana," Review of Economics of the Household, Springer, vol. 21(2), pages 591-614, June.
    3. Nyanzu, Frederick, 2022. "The joint effects of financial literacy and women’s empowerment training, and financial inclusion on food security: Evidence from Ghana," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322160, Agricultural and Applied Economics Association.
    4. Isaac Koomson & Moses Okumu & David Ansong, 2022. "Introducing the Disease Outbreak Resilience Index (DORI) Using the Demographic and Health Surveys Data from sub-Saharan Africa," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 162(3), pages 1149-1175, August.

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