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How informal education affects the financial literacy of primary school children developed in a formal educational program

Flavia Coda Moscarola and Adriaan Kalwij ()
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Flavia Coda Moscarola: CeRP-Collegio Carlo Alberto and Compagnia di San Paolo
Adriaan Kalwij: Utrecht University School of Economics

No 185, CeRP Working Papers from Center for Research on Pensions and Welfare Policies, Turin (Italy)

Abstract: This paper examines the role of informal financial education provided by parents in supplementing, and possibly improving the effect of formal financial education programs for primary school children in Italy. We report on a case study of the Money Learning (MOLE) project, an initiative of the Museum of Saving in Turin. In line with previous studies, we find that formal financial education has a positive effect on the financial literacy of primary school children. New empirical findings suggest that this effect of formal financial education can be reinforced by parents providing informal financial education (e.g. giving pocket money and freedom to spend it).

New Economics Papers: this item is included in nep-fle
Date: 2018-07
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