Behavioral Economics Commons^™

Leveling Up Financial Literacy: Evidence From Game-Based Intervention With Aspiration Treatment Amongst Rural Women In India, Akash Shaji

Master's Theses

In India, rural women exhibit notably low financial literacy levels, necessitating effective and scalable educational interventions. Our randomized controlled trial evaluated a novel approach, combining game-based financial literacy education with a video documentary-based aspirations intervention, targeting women in self-help groups in Karnataka. The study included 348 participants and employed an ANCOVA model adjusted for clustering to analyze the effects. The results demonstrate significant improvements in financial literacy and aspirations, particularly when interventions are combined. The game-based intervention alone significantly enhanced digital literacy, financial confidence, and behavioral indices such as agency, pathways, and aspirations. The aspirations intervention also independently affected financial …