The Impact of High School Financial Education: Experimental Evidence from Brazil
55 Pages Posted: 20 Apr 2016
Date Written: December 1, 2013
This paper studies the impact of a comprehensive financial education program spanning six states, 868 schools, and approximately 20,000 high school students in Brazil through a randomized control trial. The program increased student financial knowledge by a quarter of a standard deviation and led to a 1.4 percentage point increase in saving for purchases, better likelihood of financial planning, and greater participation in household financial decisions by students. "Trickle-up" impacts on parents were also significant, with improvements in parent financial knowledge, savings, and spending behavior. The study also finds evidence that the program affected students' inter-temporal preferences and attitudes.
Keywords: Tertiary Education, Financial Literacy, Education For All, Secondary Education, Primary Education
Suggested Citation: Suggested Citation