Franklin

Learning the Impact of Financial Education When Take-Up Is Low [electronic resource] / Gabriel Lara Ibarra.

Author/Creator:
Lara Ibarra, Gabriel.
Other Title:
World Bank working papers.
Publication:
Washington, D.C. : The World Bank, 2017.
Series:
Policy research working papers.
World Bank e-Library.
Format/Description:
Government document
Book
1 online resource (38 p.)
Local subjects:
Adult Outreach
Credit-Card Behavior
Education
Financial Literacy
Low Take-up
Summary:
Financial education programs are increasingly offered by governments, nonprofits, and financial institutions. However, voluntary participation rates in such programs are often very low, posing a severe challenge for randomized experiments attempting to measure their impact. This study uses a large experiment on more than 100,000 credit card clients in Mexico. The study shows how the richness of financial data allows combining nonexperimental methods with the experiment to yield credible measures of impact, even with take-up rates below 1 percent. The findings show that a financial education workshop and personalized coaching result in a higher likelihood of paying credit cards on time, and of making more than the minimum payment, but do not reduce spending, resulting in higher profitability for the bank.
Contributor:
Lara Ibarra, Gabriel.
McKenzie, David.
Ruiz Ortega, Claudia.
Other format:
Print Version: Ibarra, Gabriel Lara Learning the Impact of Financial Education When Take-Up Is Low
Publisher Number:
10.1596/1813-9450-8238
Access Restriction:
Restricted for use by site license.
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