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Financial education for female foreign domestic workers in Singapore

Rashmi Barua, Gauri Kartini Shastry and Dean Yang ()

Economics of Education Review, 2020, vol. 78, issue C

Abstract: We evaluate a randomized field experiment to study the effect of financial workshops for domestic workers in Singapore. Groups of women met monthly with a trained mentor. Take-up rates were low and our results are inconclusive as to whether invitations to these workshops improved financial knowledge and behavior. Unexpectedly, treatment assignment had a significant, negative effect on self-reported savings. Further exploration suggests that assignment to treatment could affect participants’ awareness of accumulated savings. We find a reduction in the number of savings accounts reported and an increase in the probability respondents report having disagreements with family members over finances.

Keywords: Financial education; Migrant workers; Savings (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1016/j.econedurev.2019.101920

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