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The impact of high school financial education : experimental evidence from Brazil (English)

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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Citation

Bruhn, Miriam de Souza Leao, Luciana Legovini, Arianna Marchetti, Rogelio Zia, Bilal

The impact of high school financial education : experimental evidence from Brazil (English). Policy Research working paper ; no. WPS 6723,Impact Evaluation series ; no. IE 109 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/753501468015879809/The-impact-of-high-school-financial-education-experimental-evidence-from-Brazil