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dc.titleResearch Insights: Can a Budget-Recording Tool Teach Financial Skills to Youth?
dc.contributor.authorFrisancho, Verónica
dc.contributor.authorHerrera, Alejandro
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.date.available2021-10-29T00:00:00
dc.date.issue2021-10-29T00:00:00
dc.description.abstractProviding access to a financial diary app to graduating high school students improves financial literacy test scores and knowledge of market prices. The financial app also leads to greater levels of inclusion in the formal financial system, increasing the probability of accessing credit and the level of debt in banks. The treatment effects on financial literacy appear to be strongest among those without exposure to school-based financial lessons while in high school. Young people in developing countries face limited economic opportunities, high poverty rates, and low employment levels. In addition, they often lack access to quality and suitable financial services and are unable to navigate an increasingly complex financial system. Advancing the financial inclusion of youth requires a better understanding of their financial needs and promoting financial education programs. While traditional lecture-based formats have proven effective in delivering financial education in the school setting, a remaining challenge is to reach out-of-school youth without exposure to financial education.
dc.format.extent4
dc.identifier.doihttp://dx.doi.org/10.18235/0003735
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Research-Insights-Can-a-Budget-Recording-Tool-Teach-Financial-Skills-to-Youth.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/Perspectivas-de-investigacion-Puede-una-herramienta-de-registro-de-presupuestos-ensenar-habilidades-financieras-a-los-jovenes.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectFinancial Education
dc.subjectMobile App
dc.subjectKnowledge
dc.subjectBudget
dc.subjectHigh School
dc.subjectCredit Access
dc.subjectFinancial Inclusion
dc.subjectEducational Institution
dc.subjectFinancial Transaction
dc.subjectSkills
dc.subjectStandard Deviation
dc.subjectEducation
dc.subjectFinancial System
dc.subjectTest Score
dc.subjectYouth and Children
dc.subject.jelcodeC93 - Field Experiments
dc.subject.jelcodeD90 - Intertemporal Choice: General
dc.subject.jelcodeG41 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
dc.subject.jelcodeG53 - Financial Literacy
dc.subject.jelcodeO12 - Microeconomic Analyses of Economic Development
dc.subject.jelcodeO16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance
dc.subject.keywordsyouth;Financial diaries
dc.typeCatalogs and Brochures
idb.identifier.pubnumberIDB-CB-00588
idb.operationBK-C1102
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