Financial education for female foreign domestic workers in Singapore
Gauri Kartini Shastry and
Dean Yang ()
Economics of Education Review, 2020, vol. 78, issue C
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)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecoedu:v:78:y:2020:i:c:s0272775718304254
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