Financial Education and Access to Savings Accounts: Complements or Substitutes? Evidence from Ugandan Youth Clubs / Julian C. Jamison, Dean Karlan, Jonathan Zinman.

Format:

Book

Author/Creator:

Jamison, Julian C.

Contributor:

National Bureau of Economic Research.

Karlan, Dean.

Zinman, Jonathan.

Series:

Working Paper Series (National Bureau of Economic Research) no. w20135.

NBER working paper series no. w20135

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Financial Education and Access to Savings Accounts

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2014.

Summary:

Evidence on the effectiveness of financial education and formal savings account access is lacking, particularly for youth. We randomly assign 250 youth clubs to receive either financial education, access to a cheap group account, or both. The financial education treatments increase financial literacy; the account-only treatment does not. Administrative data shows the education plus account treatment increases bank savings relative to account-only. But survey-measured total savings shows roughly equal increases across all treatment arms. Earned income also increases in all treatment arms. We find little evidence that education and account access are strong complements, and some evidence they are substitutes.

Notes:

Print version record

May 2014.