Financial Education in Schools: A Meta-Analysis of Experimental Studies
Tim Kaiser () and
No 7395, CESifo Working Paper Series from CESifo Group Munich
We study the literature on school financial education programs for children and youth via a quantitative meta-analysis of 37 (quasi-) experiments. We find that financial education treatment has, on average, a significant and sizeable impact on financial knowledge (+0.25 SD), similar to educational interventions in other domains. Additionally, we document small but still significant effects on financial behaviors (+0.05 SD). These results are robust to restricting the sample to 18 randomized experiments and they hold irrespective of the meta-analytic method used. Metaregressions show the beneficial effect of more intensive treatments and smaller class size, albeit with decreasing marginal returns.
Keywords: financial education; financial literacy; financial behavior; meta-analysis (search for similar items in EconPapers)
JEL-codes: I21 A21 D14 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-edu, nep-exp and nep-fle
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_7395
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