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

doi:10.1016/j.jdeveco.2014.03.009

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

dc.contributor.author	Doi, Yoko
dc.contributor.author	McKenzie, David
dc.date.accessioned	2014-05-06T22:23:36Z
dc.date.available	2014-05-06T22:23:36Z
dc.date.issued	2014-03-29
dc.description.abstract	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.	en
dc.identifier.citation	Journal of Development Economics
dc.identifier.doi	10.1596/18193
dc.identifier.issn	0304-3878
dc.identifier.other	10.1016/j.jdeveco.2014.03.009
dc.identifier.uri	https://hdl.handle.net/10986/18193
dc.language.iso	en_US
dc.publisher	Elsevier
dc.rights	CC BY-NC-ND 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.subject	financial literacy
dc.subject	remittances
dc.subject	migration
dc.title	Who You Train Matters : Identifying Combined Effects of Financial Education on Migrant Households	en
dc.type	Journal Article	en
dc.type	Article de journal	fr
dc.type	Artículo de revista	es
dspace.entity.type	Publication
okr.crosscuttingsolutionarea	Jobs
okr.date.disclosure	2014-03-29
okr.date.doiregistration	2025-05-06T11:36:56.563257Z
okr.doctype	Publications & Research::Journal Article
okr.externalcontent	External Content
okr.globalpractice	Macroeconomics and Fiscal Management
okr.globalpractice	Education
okr.globalpractice	Finance and Markets
okr.globalpractice	Finance and Markets
okr.globalpractice	Trade and Competitiveness
okr.identifier.doi	10.1016/j.jdeveco.2014.03.009
okr.journal.nbpages	39-55
okr.language.supported	en
okr.peerreview	Academic Peer Review
okr.relation.associatedurl	http://www.sciencedirect.com/science/article/pii/S030438781400039X
okr.relation.associatedurl	https://openknowledge.worldbank.org/handle/10986/12009
okr.topic	Education
okr.topic	Finance and Financial Sector Development::Access to Finance
okr.topic	Finance and Financial Sector Development::Finance and Development
okr.topic	Finance and Financial Sector Development::Financial Intermediation
okr.topic	Finance and Financial Sector Development::Microfinance
okr.topic	International Economics and Trade::International Migration
okr.topic	Macroeconomics and Economic Growth::Remittances
okr.volume	109(July 2014)
relation.isAuthorOfPublication	148d6d6d-76e5-5d6f-9af9-98313e30551f
relation.isAuthorOfPublication.latestForDiscovery	148d6d6d-76e5-5d6f-9af9-98313e30551f