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The impact of high school financial education : experimental evidence from Brazil

Author

Listed:
  • Bruhn, Miriam
  • de Souza Leao, Luciana
  • Legovini, Arianna
  • Marchetti, Rogelio
  • Zia, Bilal

Abstract

This paper studies the impact of a comprehensive financial education program spanning six states, 868 schools, and approximately 20,000 high school students in Brazil through a randomized control trial. The program increased student financial knowledge by a quarter of a standard deviation and led to a 1.4 percentage point increase in saving for purchases, better likelihood of financial planning, and greater participation in household financial decisions by students."Trickle-up"impacts on parents were also significant, with improvements in parent financial knowledge, savings, and spending behavior. The study also finds evidence that the program affected students'inter-temporal preferences and attitudes.

Suggested Citation

  • 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.
  • Handle: RePEc:wbk:wbrwps:6723
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    References listed on IDEAS

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    1. repec:eee:jeborg:v:155:y:2018:i:c:p:140-158 is not listed on IDEAS
    2. Kiliyanni, Abdul Latheef & Sivaraman, Sunitha, 2016. "The perception-reality gap in financial literacy: Evidence from the most literate state in India," International Review of Economics Education, Elsevier, vol. 23(C), pages 47-64.
    3. Berry, James & Karlan, Dean & Pradhan, Menno, 2018. "The Impact of Financial Education for Youth in Ghana," World Development, Elsevier, vol. 102(C), pages 71-89.
    4. Geert Van Campenhout, 2015. "Revaluing the Role of Parents as Financial Socialization Agents in Youth Financial Literacy Programs," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 186-222, March.
    5. Maria De Paola & Francesca Gioia & Fabio Piluso, 2017. "Does Reminding Of Behavioural Biases Increase Returns From Financial Trading? A Field Experiment," Working Papers 201705, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.

    More about this item

    Keywords

    Tertiary Education; Financial Literacy; Education For All; Secondary Education; Primary Education;

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