IDEAS home Printed from https://ideas.repec.org/p/ris/aiccon/2012_098.html
   My bibliography  Save this paper

Financial education on secondary school students: the randomized experiment revisited

Author

Listed:
  • Becchetti, Leonardo

    () (Associazione Italiana per la Cultura della Cooperazione e del Non Profit)

  • Pisani, Fabio

    () (Associazione Italiana per la Cultura della Cooperazione e del Non Profit)

Abstract

We analyze the effects of financial education on a large sample of secondary school students with a randomized experiment performed in the Center (Rome) and North (Milan and Genova) of Italy. Our main findings document that the course increases significantly financial literacy at both student and class level but the effect is different in different urban environments. More specifically, we document that the overall (questionnaire plus course) learning effect is significantly higher in the North than in Rome. We finally observe that high grades at final middle school exams, willingness to attend Economics at University and household borrowing status are three factors which significantly and positively affect financial education.

Suggested Citation

  • Becchetti, Leonardo & Pisani, Fabio, 2012. "Financial education on secondary school students: the randomized experiment revisited," AICCON Working Papers 98-2012, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
  • Handle: RePEc:ris:aiccon:2012_098
    as

    Download full text from publisher

    File URL: http://aiccon.it/file/convdoc/wp_98.pdf
    File Function: Full text
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Bruce Ian Carlin & David T. Robinson, 2012. "What Does Financial Literacy Training Teach Us?," The Journal of Economic Education, Taylor & Francis Journals, vol. 43(3), pages 235-247, July.
    2. Annamaria Lusardi & Olivia S. Mitchell, 2008. "Planning and Financial Literacy: How Do Women Fare?," American Economic Review, American Economic Association, vol. 98(2), pages 413-417, May.
    3. George Psacharopoulos & Harry Anthony Patrinos, 2004. "Returns to investment in education: a further update," Education Economics, Taylor & Francis Journals, vol. 12(2), pages 111-134.
    4. O. Ashenfelter & D. Card (ed.), 1999. "Handbook of Labor Economics," Handbook of Labor Economics, Elsevier, edition 1, volume 3, number 3.
    5. Leonardo Becchetti & Stefano Caiazza & Decio Coviello, 2013. "Financial education and investment attitudes in high schools: evidence from a randomized experiment," Applied Financial Economics, Taylor & Francis Journals, vol. 23(10), pages 817-836, May.
    6. Margaret Clancy & Michal Grinstein-Weiss & Mark Schreiner, 2001. "Financial Education and Savings Outcomes in Individual Development Accounts," HEW 0108001, EconWPA, revised 27 Dec 2001.
    7. Becchetti, Leonardo & Caiazza, Stefano & Coviello, Decio, 2011. "Financial education and investment attitudes in high schools," AICCON Working Papers 92-2011, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bruhn, Miriam & de Souza Leao, Luciana & Legovini, Arianna & Marchetti, Rogelio & Zia, Bilal, 2013. "The impact of high school financial education : experimental evidence from Brazil," Policy Research Working Paper Series 6723, The World Bank.
    2. Margaret Miller & Julia Reichelstein & Christian Salas & Bilal Zia, 2015. "Can You Help Someone Become Financially Capable? A Meta-Analysis of the Literature," World Bank Research Observer, World Bank Group, vol. 30(2), pages 220-246.
    3. James Berry & Dean Karlan & Menno Pradhan, 2015. "The Impact of Financial Education for Youth in Ghana," Tinbergen Institute Discussion Papers 15-043/V, Tinbergen Institute.
    4. Brugiavini, Agar & Cavapozzi, Danilo & Padula, Mario & Pettinicchi, Yuri, 2015. "Financial education, literacy and investment attitudes," SAFE Working Paper Series 86, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
    5. Lührmann, Melanie & Serra-Garcia, Marta & Winter, Joachim, 2015. "Teaching teenagers in finance: Does it work?," Journal of Banking & Finance, Elsevier, vol. 54(C), pages 160-174.
    6. Winter, Joachim & Lührmann, Melanie & Serra Garcia, Marta, 2013. "The effects of financial literacy training: Evidence from a field experiment in German high schools," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79744, Verein für Socialpolitik / German Economic Association.

    More about this item

    Keywords

    financial education; financial literacy; demand for money balances; randomized experiment;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:aiccon:2012_098. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paolo Venturi). General contact details of provider: http://edirc.repec.org/data/aiccoea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.