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University of Arkansas, Fayetteville
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Finance For All: The Impact Of Financial Literacy Training In Compulsory Secondary Education In Spain, Laura Hospido, Ernesto Villanueva, Gema Zamarro
Finance For All: The Impact Of Financial Literacy Training In Compulsory Secondary Education In Spain, Laura Hospido, Ernesto Villanueva, Gema Zamarro
Education Reform Faculty and Graduate Students Publications
We estimate the impact on objective measures of financial literacy of a 10-hour financial education program among 15-year-old students in compulsory secondary schooling. We use a matched sample of students and teachers in Madrid and two different estimation strategies. Firstly, we use reweighting estimators to compare the performance in a test of financial knowledge of students in treatment and control schools. In another specification, we use school fixed-effect estimates of the effect of the course on changes in scores in tests of financial knowledge. The program increased treated students’ financial knowledge by between one-fourth and one-third of a standard deviation. …