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The impact of high school financial education : experimental evidence from Brazil
 
Author:Bruhn, Miriam; de Souza Leao, Luciana; Legovini, Arianna; Marchetti, Rogelio; Zia, Bilal; Collection Title:Impact Evaluation series ; no. IE 109Policy Research working paper ; no. WPS 6723
Country:Brazil; Date Stored:2013/12/12
Document Date:2013/12/01Document Type:Policy Research Working Paper
SubTopics:Primary Education; Financial Literacy; Tertiary Education; Secondary Education; Education For AllLanguage:English
Region:Latin America & CaribbeanReport Number:WPS6723
Volume No:1 of 1  

Summary: 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.

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