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Reaching wide through small screens: the impact of a Banca d'Italia financial education TV campaign

Author

Listed:
  • Alessio D'Ignazio

    (Bank of Italy)

  • Ludovica Galotto

    (Bank of Italy)

  • Daniela Marconi

    (Bank of Italy)

  • Marco Panfili

    (Bank of Italy)

Abstract

Financial literacy is essential for personal and collective well-being yet remains low among adults worldwide, and traditional education programs often struggle to engage their audience. We explore a broader-reaching approach: delivering financial education through mass media. Using a randomized survey experiment with about 1,000 individuals, we evaluate the impact of a television campaign launched in 2023 by Banca d'Italia and the public broadcaster Rai, which covered various financial topics across multiple TV formats. Our findings show significant improvements in financial knowledge, particularly among women, individuals with lower financial literacy, and non-investors. The campaign also raised interest in financial topics and awareness of investment diversification. With approximately 7 million viewers in 2024, its potential impact is substantial. From a policy perspective, short-format financial education on television and social media constitutes a scalable, cost-effective complement to existing initiatives. While our findings are robust, they only capture short-term effects; further research is needed to assess long-term impact.

Suggested Citation

  • Alessio D'Ignazio & Ludovica Galotto & Daniela Marconi & Marco Panfili, 2025. "Reaching wide through small screens: the impact of a Banca d'Italia financial education TV campaign," Questioni di Economia e Finanza (Occasional Papers) 990, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_990_25
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education

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