Does financial education impact school attainment? Experimental evidence from Brazil

Daniele Chiavenato, Ricardo A. Madeira and Vitor Vaccaro

Nova SBE Working Paper Series from Universidade Nova de Lisboa, Nova School of Business and Economics

Abstract: Can an applied mathematics curriculum enhance student intrinsic motivation and improve math achievement? We tackle this question through a randomized control trial of a program that integrates financial education into the mathematics curriculum in Brazil. Spanning 190 public schools and over 15,000 students, our study reveals that the program significantly boosts students’ interest in mathematics and enhances financial literacy and math performance, particularly among students from poorer socioeconomic backgrounds. Initially, the program strengthens these students’ internal locus of control and broad interest in mathematics during the first year. By the second year’s conclusion, it positively impacts their financial literacy, math proficiency, and specific socio-emotional skills crucial for the labor market. However, we do not observe significant changes in self-reported financial behaviors or attitudes as measured by a financial autonomy index.

Keywords: Financial education; School attainment; Socio-emotional skills; Youth; Randomized controlled trials (search for similar items in EconPapers)
JEL-codes: G53 I21 J24 O12 (search for similar items in EconPapers)
Pages: 60 pages
Date: 2024
New Economics Papers: this item is included in nep-exp
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Persistent link: https://EconPapers.repec.org/RePEc:unl:unlfep:wp666

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