Can You Help Someone Become Financially Capable? A Meta-Analysis of the Literature
This paper presents a systematic and comprehensive meta-analysis of the literature on financial education interventions. The analysis focuses on financial education studies designed to strengthen the financial knowledge and behaviors of consumers....
| Main Authors: | , , , |
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2014/01/18807418/can-help-someone-financially-capable-meta-analysis-literature http://hdl.handle.net/10986/16833 |
| Summary: | This paper presents a systematic and
comprehensive meta-analysis of the literature on financial
education interventions. The analysis focuses on financial
education studies designed to strengthen the financial
knowledge and behaviors of consumers. The analysis
identifies 188 papers and articles that present impact
results of interventions designed to increase
consumers' financial knowledge (financial literacy) or
skills, attitudes, and behaviors (financial capability).
These papers are diverse across a number of dimensions,
including objectives of the program intervention, expected
outcomes, intensity and duration of the intervention,
delivery channel used, and type of population targeted.
However, there are a few key outcome indicators where a
subset of papers are comparable, including those that
address savings behavior, defaults on loans, and financial
skills, such as record keeping. The results from the meta
analysis indicate that financial literacy and capability
interventions can have a positive impact in some areas
(increasing savings and promoting financial skills such as
record keeping) but not in others (credit default). |
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