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The Impact of Financial Literacy Training for Migrants

John Gibson, David McKenzie and Bilal Zia

No 1216, RF Berlin - CReAM Discussion Paper Series from Rockwool Foundation Berlin (RF Berlin) - Centre for Research and Analysis of Migration (CReAM)

Abstract: Remittances are a major source of external finance for many developing countries but the cost of sending remittances remains high for many migration corridors. International efforts to lower costs by facilitating the entry of new financial products and new cost comparison information sources rely heavily on the financial literacy of migrants. This paper presents the results of a randomized experiment designed to measure the impact of providing financial literacy training to migrants. Training appears to increase financial knowledge and information seeking behavior and reduces the risk of switching to costlier remittance products but does not change either the frequency or level of remittances.

Keywords: Financial literacy; Remittances; Migration. (search for similar items in EconPapers)
JEL-codes: C93 F24 O12 (search for similar items in EconPapers)
Date: 2012-05
New Economics Papers: this item is included in nep-mfd and nep-mig
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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https://www.cream-migration.org/publ_uploads/CDP_16_12.pdf (application/pdf)

Related works:
Journal Article: The Impact of Financial Literacy Training for Migrants (2014) Downloads
Working Paper: The impact of financial literacy training for migrants (2012) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:crm:wpaper:1216

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