Who You Train Matters : Identifying Combined 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 this issue, but to date there is no evidence that they...

Full description

Bibliographic Details
Main Authors:	Doi, Yoko, McKenzie, David
Format:	Journal Article
Language:	en_US
Published:	Elsevier 2014
Subjects:	financial literacy remittances migration
Online Access:	http://hdl.handle.net/10986/18193

id	okr-10986-18193
recordtype	oai_dc
spelling	okr-10986-181932021-04-23T14:03:42Z Who You Train Matters : Identifying Combined Effects of Financial Education on Migrant Households Doi, Yoko McKenzie, David financial literacy remittances migration 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. We conducted a randomized experiment in Indonesia which allocated female 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. We find that training both the migrant and family member together has large and significant impacts on knowledge, behaviors, and savings. Training the family member alone has some positive, but smaller effects, while 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. 2014-05-06T22:23:36Z 2014-05-06T22:23:36Z 2014-03-29 Journal Article Journal of Development Economics 0304-3878 10.1016/j.jdeveco.2014.03.009 http://hdl.handle.net/10986/18193 en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Elsevier Publications & Research :: Journal Article
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	en_US
topic	financial literacy remittances migration
spellingShingle	financial literacy remittances migration Doi, Yoko McKenzie, David Who You Train Matters : Identifying Combined Effects of Financial Education on Migrant Households
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. We conducted a randomized experiment in Indonesia which allocated female 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. We find that training both the migrant and family member together has large and significant impacts on knowledge, behaviors, and savings. Training the family member alone has some positive, but smaller effects, while 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	Journal Article
author	Doi, Yoko McKenzie, David
author_facet	Doi, Yoko McKenzie, David
author_sort	Doi, Yoko
title	Who You Train Matters : Identifying Combined Effects of Financial Education on Migrant Households
title_short	Who You Train Matters : Identifying Combined Effects of Financial Education on Migrant Households
title_full	Who You Train Matters : Identifying Combined Effects of Financial Education on Migrant Households
title_fullStr	Who You Train Matters : Identifying Combined Effects of Financial Education on Migrant Households
title_full_unstemmed	Who You Train Matters : Identifying Combined Effects of Financial Education on Migrant Households
title_sort	who you train matters : identifying combined effects of financial education on migrant households
publisher	Elsevier
publishDate	2014
url	http://hdl.handle.net/10986/18193
_version_	1764439454863327232

Who You Train Matters : Identifying Combined Effects of Financial Education on Migrant Households

Similar Items