Decentralized Delivery of Financial Education : Evidence from a Country-Wide Field Experiment

Can financial education delivery be successfully decentralized? This paper studies a large-scale field experiment with 200 Savings and Credit Cooperative Associations (SACCOs) in Rwanda, and tests competing models of local financial education deliv...

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Main Authors:	Hakizimfura, Emmanuel, Randall, Douglas, Zia, Bilal
Format:	Working Paper
Language:	English
Published:	World Bank, Washington, DC 2018
Subjects:	FINANCIAL LITERACY FINANCIAL EDUCATION COMMUNITY-DRIVEN DEVELOPMENT CREDIT COOPERATIVE RANDOMIZED CONTROL TRIALS
Online Access:	http://documents.worldbank.org/curated/en/757641531332170199/Decentralized-delivery-of-financial-education-evidence-from-a-country-wide-field-experiment http://hdl.handle.net/10986/29994

id	okr-10986-29994
recordtype	oai_dc
spelling	okr-10986-299942021-06-08T14:42:46Z Decentralized Delivery of Financial Education : Evidence from a Country-Wide Field Experiment Hakizimfura, Emmanuel Randall, Douglas Zia, Bilal FINANCIAL LITERACY FINANCIAL EDUCATION COMMUNITY-DRIVEN DEVELOPMENT CREDIT COOPERATIVE RANDOMIZED CONTROL TRIALS Can financial education delivery be successfully decentralized? This paper studies a large-scale field experiment with 200 Savings and Credit Cooperative Associations (SACCOs) in Rwanda, and tests competing models of local financial education delivery. One-third of SACCOs, randomly selected, were invited to a comprehensive training-of-trainers (TOT) workshop and stipulated to send the SACCO manager, a loan officer, and a board member to be trained. Another one-third were invited to the same workshop, but allowed free selection of trainers. The latter resulted in significantly more community members and fewer loan officers being trained as trainers. Within a year, these trainers successfully disseminated content to 68,000 households, with higher session attendance in the autonomous selection group. Analysis from follow-up surveys finds stark differences in behavior change: recipients in the autonomous selection group show significant improvements in financial attitudes, rules of thumb, and planning, as well as budgeting and savings behaviors. In contrast, recipients in the fixed selection group show no significant improvements on any of the outcome measures. These results underscore the importance of community-led delivery of financial education programs. 2018-07-16T14:15:44Z 2018-07-16T14:15:44Z 2018-07 Working Paper http://documents.worldbank.org/curated/en/757641531332170199/Decentralized-delivery-of-financial-education-evidence-from-a-country-wide-field-experiment http://hdl.handle.net/10986/29994 English Policy Research Working Paper;No. 8521 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Africa Rwanda
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	FINANCIAL LITERACY FINANCIAL EDUCATION COMMUNITY-DRIVEN DEVELOPMENT CREDIT COOPERATIVE RANDOMIZED CONTROL TRIALS
spellingShingle	FINANCIAL LITERACY FINANCIAL EDUCATION COMMUNITY-DRIVEN DEVELOPMENT CREDIT COOPERATIVE RANDOMIZED CONTROL TRIALS Hakizimfura, Emmanuel Randall, Douglas Zia, Bilal Decentralized Delivery of Financial Education : Evidence from a Country-Wide Field Experiment
geographic_facet	Africa Rwanda
relation	Policy Research Working Paper;No. 8521
description	Can financial education delivery be successfully decentralized? This paper studies a large-scale field experiment with 200 Savings and Credit Cooperative Associations (SACCOs) in Rwanda, and tests competing models of local financial education delivery. One-third of SACCOs, randomly selected, were invited to a comprehensive training-of-trainers (TOT) workshop and stipulated to send the SACCO manager, a loan officer, and a board member to be trained. Another one-third were invited to the same workshop, but allowed free selection of trainers. The latter resulted in significantly more community members and fewer loan officers being trained as trainers. Within a year, these trainers successfully disseminated content to 68,000 households, with higher session attendance in the autonomous selection group. Analysis from follow-up surveys finds stark differences in behavior change: recipients in the autonomous selection group show significant improvements in financial attitudes, rules of thumb, and planning, as well as budgeting and savings behaviors. In contrast, recipients in the fixed selection group show no significant improvements on any of the outcome measures. These results underscore the importance of community-led delivery of financial education programs.
format	Working Paper
author	Hakizimfura, Emmanuel Randall, Douglas Zia, Bilal
author_facet	Hakizimfura, Emmanuel Randall, Douglas Zia, Bilal
author_sort	Hakizimfura, Emmanuel
title	Decentralized Delivery of Financial Education : Evidence from a Country-Wide Field Experiment
title_short	Decentralized Delivery of Financial Education : Evidence from a Country-Wide Field Experiment
title_full	Decentralized Delivery of Financial Education : Evidence from a Country-Wide Field Experiment
title_fullStr	Decentralized Delivery of Financial Education : Evidence from a Country-Wide Field Experiment
title_full_unstemmed	Decentralized Delivery of Financial Education : Evidence from a Country-Wide Field Experiment
title_sort	decentralized delivery of financial education : evidence from a country-wide field experiment
publisher	World Bank, Washington, DC
publishDate	2018
url	http://documents.worldbank.org/curated/en/757641531332170199/Decentralized-delivery-of-financial-education-evidence-from-a-country-wide-field-experiment http://hdl.handle.net/10986/29994
_version_	1764471007910821888

Decentralized Delivery of Financial Education : Evidence from a Country-Wide Field Experiment

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