Who You Train Matters : Identifying Complementary Effects of Financial Education on Migrant Households
There has long been a concern among policymakers that too much of remittances are consumed and too little saved, limiting the development impact of migration. Financial literacy programs have become an increasingly popular way to try and address th...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2012/08/16602649/train-matters-identifying-complementary-effects-financial-education-migrant-households http://hdl.handle.net/10986/12009 |
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okr-10986-12009 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO SAVINGS ATM ATMS ATTENDANCE RATES BANK ACCOUNT BANK ACCOUNTS BANKING SERVICE BANKING SERVICES BANKS BASIC KNOWLEDGE BASIC PRINCIPLES BEHAVIORAL ECONOMICS BEST PRACTICES BIASES BORROWING BORROWING MONEY BROCHURE BROCHURES BUDGETING CALCULATION CALCULATIONS CLASSROOMS COMIC BOOKS COMPUTATIONAL SKILLS CONTRIBUTION CURRICULUM DEBIT CARD DEBT DEBT MANAGEMENT DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DEVELOPMENTAL IMPACT ECONOMIC DEVELOPMENT EDUCATION LEVELS EMPLOYER EQUALITY EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES FAMILIES FAMILY MEMBER FAMILY MEMBERS FARMERS FEDERAL RESERVE FEDERAL RESERVE BANK FEMALE RESPONDENT FINANCES FINANCIAL ADVICE FINANCIAL ASSISTANCE FINANCIAL BEHAVIORS FINANCIAL CONCEPTS FINANCIAL DECISION FINANCIAL DECISIONS FINANCIAL ECONOMIST FINANCIAL EDUCATION FINANCIAL EDUCATION PROGRAM FINANCIAL EDUCATION PROGRAMS FINANCIAL GOAL FINANCIAL GOALS FINANCIAL INSTITUTION FINANCIAL ISSUES FINANCIAL KNOWLEDGE FINANCIAL LITERACY FINANCIAL LITERACY CAMPAIGN FINANCIAL LITERACY EDUCATION FINANCIAL LITERACY EXPERTS FINANCIAL LITERACY PROGRAM FINANCIAL LITERACY PROGRAMS FINANCIAL LITERACY TRAINING FINANCIAL MANAGEMENT FINANCIAL PLAN FINANCIAL PRACTICES FINANCIAL PRODUCT FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRAINING FOREIGN CURRENCY FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL SERVICES GENDER GENDER ROLES GENERAL POPULATION GREATER ACCESS HIGH SCHOOL HOUSEHOLD APPLIANCES HOUSEHOLD FINANCE HOUSEHOLD FINANCIAL DECISION HOUSEHOLD INCOME HOUSEHOLD INVESTMENT HOUSEHOLD SAVING HOUSEHOLDS INCOME INEQUALITY INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL BANK INVESTMENT CLIMATE JOB TRAINING LEARNING LIMITED INCOMES LOAN LOAN BEHAVIOR LOAN PRODUCTS LOW LEVELS OF EDUCATION LUMP SUM MEASURES OF KNOWLEDGE MICROFINANCE MIGRANT WORKER MIGRANT WORKERS MONEY MANAGEMENT MONTHLY INCOME NATIONAL UNIVERSITY NUMERACY PAWNSHOP PAYDAY LOANS PRIMARY SCHOOL PRIMARY SCHOOLING REGRESSION ANALYSIS REMITTANCE REMITTANCES RENTS RESEARCH ASSISTANCE RESERVE BANK RETIREMENT RETIREMENT FUNDS RURAL AREAS SAVING BEHAVIOR SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS BEHAVIORS SAVINGS GROUP SAVINGS OPTIONS SAVINGS PRODUCT SAVINGS PRODUCTS SAVINGS SERVICES SEASONAL WORKERS SENIOR SOCIAL NETWORKS TEACHING TERMINATION TRAINING CENTER TRAINING MATERIALS TRAINING PROGRAM TRANSACTION TRANSACTION FEES VILLAGE WAGE WAGES |
| spellingShingle |
ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO SAVINGS ATM ATMS ATTENDANCE RATES BANK ACCOUNT BANK ACCOUNTS BANKING SERVICE BANKING SERVICES BANKS BASIC KNOWLEDGE BASIC PRINCIPLES BEHAVIORAL ECONOMICS BEST PRACTICES BIASES BORROWING BORROWING MONEY BROCHURE BROCHURES BUDGETING CALCULATION CALCULATIONS CLASSROOMS COMIC BOOKS COMPUTATIONAL SKILLS CONTRIBUTION CURRICULUM DEBIT CARD DEBT DEBT MANAGEMENT DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DEVELOPMENTAL IMPACT ECONOMIC DEVELOPMENT EDUCATION LEVELS EMPLOYER EQUALITY EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES FAMILIES FAMILY MEMBER FAMILY MEMBERS FARMERS FEDERAL RESERVE FEDERAL RESERVE BANK FEMALE RESPONDENT FINANCES FINANCIAL ADVICE FINANCIAL ASSISTANCE FINANCIAL BEHAVIORS FINANCIAL CONCEPTS FINANCIAL DECISION FINANCIAL DECISIONS FINANCIAL ECONOMIST FINANCIAL EDUCATION FINANCIAL EDUCATION PROGRAM FINANCIAL EDUCATION PROGRAMS FINANCIAL GOAL FINANCIAL GOALS FINANCIAL INSTITUTION FINANCIAL ISSUES FINANCIAL KNOWLEDGE FINANCIAL LITERACY FINANCIAL LITERACY CAMPAIGN FINANCIAL LITERACY EDUCATION FINANCIAL LITERACY EXPERTS FINANCIAL LITERACY PROGRAM FINANCIAL LITERACY PROGRAMS FINANCIAL LITERACY TRAINING FINANCIAL MANAGEMENT FINANCIAL PLAN FINANCIAL PRACTICES FINANCIAL PRODUCT FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRAINING FOREIGN CURRENCY FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL SERVICES GENDER GENDER ROLES GENERAL POPULATION GREATER ACCESS HIGH SCHOOL HOUSEHOLD APPLIANCES HOUSEHOLD FINANCE HOUSEHOLD FINANCIAL DECISION HOUSEHOLD INCOME HOUSEHOLD INVESTMENT HOUSEHOLD SAVING HOUSEHOLDS INCOME INEQUALITY INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL BANK INVESTMENT CLIMATE JOB TRAINING LEARNING LIMITED INCOMES LOAN LOAN BEHAVIOR LOAN PRODUCTS LOW LEVELS OF EDUCATION LUMP SUM MEASURES OF KNOWLEDGE MICROFINANCE MIGRANT WORKER MIGRANT WORKERS MONEY MANAGEMENT MONTHLY INCOME NATIONAL UNIVERSITY NUMERACY PAWNSHOP PAYDAY LOANS PRIMARY SCHOOL PRIMARY SCHOOLING REGRESSION ANALYSIS REMITTANCE REMITTANCES RENTS RESEARCH ASSISTANCE RESERVE BANK RETIREMENT RETIREMENT FUNDS RURAL AREAS SAVING BEHAVIOR SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS BEHAVIORS SAVINGS GROUP SAVINGS OPTIONS SAVINGS PRODUCT SAVINGS PRODUCTS SAVINGS SERVICES SEASONAL WORKERS SENIOR SOCIAL NETWORKS TEACHING TERMINATION TRAINING CENTER TRAINING MATERIALS TRAINING PROGRAM TRANSACTION TRANSACTION FEES VILLAGE WAGE WAGES Doi, Yoko McKenzie, David Zia, Bilal Who You Train Matters : Identifying Complementary Effects of Financial Education on Migrant Households |
| geographic_facet |
East Asia and Pacific Indonesia |
| relation |
Policy Research working paper;no. 6157 |
| description |
There has long been a concern among
policymakers that too much of remittances are consumed and
too little saved, limiting the development impact of
migration. Financial literacy programs have become an
increasingly popular way to try and address this issue, but
to date there is no evidence that they are effective in
inducing savings among remittance-receiving households, nor
is it clear whether such programs are best targeted at the
migrant, the remittance receiver, or both. The authors
conducted a randomized experiment in Indonesia which
allocated migrants and their families to a control group, a
migrant-only training group, a family member-only training
group, and a training group in which both the migrant and a
family member were trained. Three rounds of follow-up
surveys are then used to measure impacts on the financial
knowledge, behaviors, and remittance and savings outcomes of
the remaining household. They find that training both the
migrant and the family member together has large and
significant impacts on knowledge, behaviors, and savings.
Training the family member alone has some positive, but
smaller effects, whilst training only the migrant leads to
no impacts on the remaining family members. The results show
that financial education can have large effects when
provided at a teachable moment, but that this impact varies
greatly with who receives training. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Doi, Yoko McKenzie, David Zia, Bilal |
| author_facet |
Doi, Yoko McKenzie, David Zia, Bilal |
| author_sort |
Doi, Yoko |
| title |
Who You Train Matters : Identifying Complementary Effects of Financial Education on Migrant Households |
| title_short |
Who You Train Matters : Identifying Complementary Effects of Financial Education on Migrant Households |
| title_full |
Who You Train Matters : Identifying Complementary Effects of Financial Education on Migrant Households |
| title_fullStr |
Who You Train Matters : Identifying Complementary Effects of Financial Education on Migrant Households |
| title_full_unstemmed |
Who You Train Matters : Identifying Complementary Effects of Financial Education on Migrant Households |
| title_sort |
who you train matters : identifying complementary effects of financial education on migrant households |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2012/08/16602649/train-matters-identifying-complementary-effects-financial-education-migrant-households http://hdl.handle.net/10986/12009 |
| _version_ |
1764418699596398592 |
| spelling |
okr-10986-120092021-04-23T14:02:58Z Who You Train Matters : Identifying Complementary Effects of Financial Education on Migrant Households Doi, Yoko McKenzie, David Zia, Bilal ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO SAVINGS ATM ATMS ATTENDANCE RATES BANK ACCOUNT BANK ACCOUNTS BANKING SERVICE BANKING SERVICES BANKS BASIC KNOWLEDGE BASIC PRINCIPLES BEHAVIORAL ECONOMICS BEST PRACTICES BIASES BORROWING BORROWING MONEY BROCHURE BROCHURES BUDGETING CALCULATION CALCULATIONS CLASSROOMS COMIC BOOKS COMPUTATIONAL SKILLS CONTRIBUTION CURRICULUM DEBIT CARD DEBT DEBT MANAGEMENT DEVELOPMENT ASSISTANCE DEVELOPMENT BANK DEVELOPMENTAL IMPACT ECONOMIC DEVELOPMENT EDUCATION LEVELS EMPLOYER EQUALITY EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES FAMILIES FAMILY MEMBER FAMILY MEMBERS FARMERS FEDERAL RESERVE FEDERAL RESERVE BANK FEMALE RESPONDENT FINANCES FINANCIAL ADVICE FINANCIAL ASSISTANCE FINANCIAL BEHAVIORS FINANCIAL CONCEPTS FINANCIAL DECISION FINANCIAL DECISIONS FINANCIAL ECONOMIST FINANCIAL EDUCATION FINANCIAL EDUCATION PROGRAM FINANCIAL EDUCATION PROGRAMS FINANCIAL GOAL FINANCIAL GOALS FINANCIAL INSTITUTION FINANCIAL ISSUES FINANCIAL KNOWLEDGE FINANCIAL LITERACY FINANCIAL LITERACY CAMPAIGN FINANCIAL LITERACY EDUCATION FINANCIAL LITERACY EXPERTS FINANCIAL LITERACY PROGRAM FINANCIAL LITERACY PROGRAMS FINANCIAL LITERACY TRAINING FINANCIAL MANAGEMENT FINANCIAL PLAN FINANCIAL PRACTICES FINANCIAL PRODUCT FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRAINING FOREIGN CURRENCY FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL SERVICES GENDER GENDER ROLES GENERAL POPULATION GREATER ACCESS HIGH SCHOOL HOUSEHOLD APPLIANCES HOUSEHOLD FINANCE HOUSEHOLD FINANCIAL DECISION HOUSEHOLD INCOME HOUSEHOLD INVESTMENT HOUSEHOLD SAVING HOUSEHOLDS INCOME INEQUALITY INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL BANK INVESTMENT CLIMATE JOB TRAINING LEARNING LIMITED INCOMES LOAN LOAN BEHAVIOR LOAN PRODUCTS LOW LEVELS OF EDUCATION LUMP SUM MEASURES OF KNOWLEDGE MICROFINANCE MIGRANT WORKER MIGRANT WORKERS MONEY MANAGEMENT MONTHLY INCOME NATIONAL UNIVERSITY NUMERACY PAWNSHOP PAYDAY LOANS PRIMARY SCHOOL PRIMARY SCHOOLING REGRESSION ANALYSIS REMITTANCE REMITTANCES RENTS RESEARCH ASSISTANCE RESERVE BANK RETIREMENT RETIREMENT FUNDS RURAL AREAS SAVING BEHAVIOR SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS BEHAVIORS SAVINGS GROUP SAVINGS OPTIONS SAVINGS PRODUCT SAVINGS PRODUCTS SAVINGS SERVICES SEASONAL WORKERS SENIOR SOCIAL NETWORKS TEACHING TERMINATION TRAINING CENTER TRAINING MATERIALS TRAINING PROGRAM TRANSACTION TRANSACTION FEES VILLAGE WAGE WAGES There has long been a concern among policymakers that too much of remittances are consumed and too little saved, limiting the development impact of migration. Financial literacy programs have become an increasingly popular way to try and address this issue, but to date there is no evidence that they are effective in inducing savings among remittance-receiving households, nor is it clear whether such programs are best targeted at the migrant, the remittance receiver, or both. The authors conducted a randomized experiment in Indonesia which allocated migrants and their families to a control group, a migrant-only training group, a family member-only training group, and a training group in which both the migrant and a family member were trained. Three rounds of follow-up surveys are then used to measure impacts on the financial knowledge, behaviors, and remittance and savings outcomes of the remaining household. They find that training both the migrant and the family member together has large and significant impacts on knowledge, behaviors, and savings. Training the family member alone has some positive, but smaller effects, whilst training only the migrant leads to no impacts on the remaining family members. The results show that financial education can have large effects when provided at a teachable moment, but that this impact varies greatly with who receives training. 2012-12-21T20:11:28Z 2012-12-21T20:11:28Z 2012-08 http://documents.worldbank.org/curated/en/2012/08/16602649/train-matters-identifying-complementary-effects-financial-education-migrant-households http://hdl.handle.net/10986/12009 English en_US Policy Research working paper;no. 6157 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research East Asia and Pacific Indonesia |