Household economic strengthening through financial and psychosocial programming: Evidence from a field experiment in South Africa
Janina Isabel Steinert,
Lucie Dale Cluver,
Jenny Doubt and
Journal of Development Economics, 2018, vol. 134, issue C, 443-466
Using data from a randomized field experiment with 552 households, nested within 40 villages and townships in South Africa, we examine the impact of a brief financial literacy training that was integrated into a broader psychosocial parenting intervention. Based on self-reported measures, we document significant improvements in financial behaviors, including higher saving and lower borrowing rates. We also see wider implications for household economic welfare, demonstrated by reduced self-reported financial distress, better resilience to economic shocks, and a greater capacity to securing basic needs. We argue that program impact may run through three effect channels, namely improved self-efficacy, higher family and community social support, and greater optimism. Overall, our findings suggest that “hybrid” program curricula that offer combinations of financial and psychosocial components can add value to stand-alone financial literacy training.
Keywords: Financial literacy; Saving; Parenting; RCT; South Africa (search for similar items in EconPapers)
JEL-codes: D14 D91 I31 O12 O16 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:deveco:v:134:y:2018:i:c:p:443-466
Access Statistics for this article
Journal of Development Economics is currently edited by M. R. Rosenzweig
More articles in Journal of Development Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().