The Role of Financial Literacy and of Financial Education Interventions in Developing Countries

Margherita Calderone

No 34, DIW Roundup: Politik im Fokus from DIW Berlin, German Institute for Economic Research

Abstract: Financial literacy has received increased attention since the global financial crisis and the literature confirms that it is correlated with higher household well-being. In parallel, financial education programs have grown in popularity and an increasing number of countries are developing national financial education strategies and making more investments in related programs. However, the evidence from field experimental research linking financial education interventions and household financial outcomes in developing countries provides mixed results. New findings from recent experiments suggest that well designed and targeted training programs can indeed be successful in increasing formal savings and promoting responsible financial behaviors.

Pages: 4 p.
Date: 2014
New Economics Papers: this item is included in nep-edu, nep-exp and nep-mfd
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