Miriam Bruhn|Gabriel Lara Ibarra|David McKenzie
The minimal impact of a large-scale financial education program in Mexico City
World Bank|World Bank|World Bank
conduct randomized experiments around largescale financial literacy course mexico city understand reasons low takeup among general population measure impact financial education course results suggest reputational logistical specific forms behavioral constraints main reasons limited participation people respond higher benefits attending form monetary incentives attending training results 9 percentage point increase financial knowledge 9 percentage point increase selfreported measures saving impact borrowing behavior administrative data suggests savings impact may shortlived findings indicate course served 300000 people expanded throughout latin america minimal impact marginal participants people likely making optimal choices attend financial education course