Financial education and spillover effects

Theodosis Kallenos (), Andreas Milidonis (), George Nishiotis and Stavros Zenios ()
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Theodosis Kallenos: University of Cyprus
Andreas Milidonis: University of Cyprus
Stavros Zenios: University of Cyprus

Empirica, 2025, vol. 52, issue 2, No 3, 243-271

Abstract: 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.

Keywords: Financial education; Financial literacy; Spillover; University course (search for similar items in EconPapers)
JEL-codes: G53 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10663-025-09647-1

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