Doi, YokoMcKenzie, DavidZia, Bilal2012-12-212012-12-212012-08https://hdl.handle.net/10986/12009There 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. The authors conducted a randomized experiment in Indonesia which allocated 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. They find that training both the migrant and the family member together has large and significant impacts on knowledge, behaviors, and savings. Training the family member alone has some positive, but smaller effects, whilst 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-USCC BY 3.0 IGOACCESS TO FINANCEACCESS TO FINANCIAL SERVICESACCESS TO SAVINGSATMATMSATTENDANCE RATESBANK ACCOUNTBANK ACCOUNTSBANKING SERVICEBANKING SERVICESBANKSBASIC KNOWLEDGEBASIC PRINCIPLESBEHAVIORAL ECONOMICSBEST PRACTICESBIASESBORROWINGBORROWING MONEYBROCHUREBROCHURESBUDGETINGCALCULATIONCALCULATIONSCLASSROOMSCOMIC BOOKSCOMPUTATIONAL SKILLSCONTRIBUTIONCURRICULUMDEBIT CARDDEBTDEBT MANAGEMENTDEVELOPMENT ASSISTANCEDEVELOPMENT BANKDEVELOPMENTAL IMPACTECONOMIC DEVELOPMENTEDUCATION LEVELSEMPLOYEREQUALITYEXCHANGE RATEEXCHANGE RATESEXPENDITUREEXPENDITURESFAMILIESFAMILY MEMBERFAMILY MEMBERSFARMERSFEDERAL RESERVEFEDERAL RESERVE BANKFEMALE RESPONDENTFINANCESFINANCIAL ADVICEFINANCIAL ASSISTANCEFINANCIAL BEHAVIORSFINANCIAL CONCEPTSFINANCIAL DECISIONFINANCIAL DECISIONSFINANCIAL ECONOMISTFINANCIAL EDUCATIONFINANCIAL EDUCATION PROGRAMFINANCIAL EDUCATION PROGRAMSFINANCIAL GOALFINANCIAL GOALSFINANCIAL INSTITUTIONFINANCIAL ISSUESFINANCIAL KNOWLEDGEFINANCIAL LITERACYFINANCIAL LITERACY CAMPAIGNFINANCIAL LITERACY EDUCATIONFINANCIAL LITERACY EXPERTSFINANCIAL LITERACY PROGRAMFINANCIAL LITERACY PROGRAMSFINANCIAL LITERACY TRAININGFINANCIAL MANAGEMENTFINANCIAL PLANFINANCIAL PRACTICESFINANCIAL PRODUCTFINANCIAL RISKSFINANCIAL SECTORFINANCIAL SERVICESFINANCIAL SYSTEMFINANCIAL TRAININGFOREIGN CURRENCYFORMAL FINANCIAL INSTITUTIONFORMAL FINANCIAL SERVICESGENDERGENDER ROLESGENERAL POPULATIONGREATER ACCESSHIGH SCHOOLHOUSEHOLD APPLIANCESHOUSEHOLD FINANCEHOUSEHOLD FINANCIAL DECISIONHOUSEHOLD INCOMEHOUSEHOLD INVESTMENTHOUSEHOLD SAVINGHOUSEHOLDSINCOMEINEQUALITYINSURANCEINTEREST RATEINTEREST RATESINTERNATIONAL BANKINVESTMENT CLIMATEJOB TRAININGLEARNINGLIMITED INCOMESLOANLOAN BEHAVIORLOAN PRODUCTSLOW LEVELS OF EDUCATIONLUMP SUMMEASURES OF KNOWLEDGEMICROFINANCEMIGRANT WORKERMIGRANT WORKERSMONEY MANAGEMENTMONTHLY INCOMENATIONAL UNIVERSITYNUMERACYPAWNSHOPPAYDAY LOANSPRIMARY SCHOOLPRIMARY SCHOOLINGREGRESSION ANALYSISREMITTANCEREMITTANCESRENTSRESEARCH ASSISTANCERESERVE BANKRETIREMENTRETIREMENT FUNDSRURAL AREASSAVING BEHAVIORSAVINGSSAVINGS ACCOUNTSAVINGS ACCOUNTSSAVINGS BEHAVIORSSAVINGS GROUPSAVINGS OPTIONSSAVINGS PRODUCTSAVINGS PRODUCTSSAVINGS SERVICESSEASONAL WORKERSSENIORSOCIAL NETWORKSTEACHINGTERMINATIONTRAINING CENTERTRAINING MATERIALSTRAINING PROGRAMTRANSACTIONTRANSACTION FEESVILLAGEWAGEWAGESWorld Bank10.1596/1813-9450-6157