Tim Kaiser|Lukas Menkhoff
Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?
abstract metaanalysis 126 impact evaluation studies find financial education significantly impacts financial behavior even larger extent financial literacy results also hold subsample randomized experiments rcts however intervention impacts highly heterogeneous financial education less effective lowincome clients well low lowermiddleincome economies specific behaviors handling debt difficult influence mandatory financial education tentatively appears less effective thus intervention success depends crucially increasing education intensity offering financial education teachable moment