Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?
对126项影响评估研究的元分析发现，金融教育显著影响金融行为，对金融素养影响更大，但效果因收入水平和经济体发展程度而异，低收入群体和低中收入经济体效果较弱。
Abstract In a meta-analysis of 126 impact evaluation studies, we find that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lower-middle–income economies. Specific behaviors, such as the handling of debt, are more difficult to influence and mandatory financial education tentatively appears to be less effective. Thus, intervention success depends crucially on increasing education intensity and offering financial education at a “teachable moment.”