IDEAS home Printed from https://ideas.repec.org/a/cup/jpenef/v17y2018i03p254-277_00.html
   My bibliography  Save this article

Does financial education enhance financial preparedness? Evidence from a natural experiment in Singapore

Author

Listed:
  • BARUA, RASHMI
  • KOH, BENEDICT
  • MITCHELL, OLIVIA S.

Abstract

We evaluate how financial education provided to college students influenced their financial knowledge and planning in a quasi-experimental setting where we control for student motivation to enroll in the course. Using a difference-in-difference strategy, we show that financial education led to an increase in financial knowledge and planning. Specifically, we find that financial education improved students’ financial knowledge score by 11%, and financial planning score by 16%. No statistically significant effects are detected for student levels of financial prudence, discipline, or outcomes related to credit card usage.

Suggested Citation

  • Barua, Rashmi & Koh, Benedict & Mitchell, Olivia S., 2018. "Does financial education enhance financial preparedness? Evidence from a natural experiment in Singapore," Journal of Pension Economics and Finance, Cambridge University Press, vol. 17(3), pages 254-277, July.
    • Handle: RePEc:cup:jpenef:v:17:y:2018:i:03:p:254-277_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1474747217000312/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tran, Trung & Thanh, Hai Trinh & Van Le, Dao & Phuong, Thao Trinh Thi & Lan, Phuong Nguyen, 2022. "Does government financial support decrease the inefficiency of public universities? A decomposition approach," Finance Research Letters, Elsevier, vol. 47(PA).
    2. Bikramjit Rishi & Dilip Kumar Mallick & Atul Shiva, 2024. "Examining the dynamics leading towards credit card usage attitude: an empirical investigation using importance performance map analysis," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(1), pages 79-96, March.
    3. Ascaryan RAFINDA & Tímea GÁL, 2019. "The Educational Programme For Micro Investment In Agriculture In Indonesian Rural Areas," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 19, pages 23-38, May.
    4. Gentjan Çera & Khurram Ajaz Khan & Jaroslav Belas & Humberto Nuno Rito Ribeiro, 2020. "The Role of Financial Capability and Culture in Financial Satisfaction," Economic Papers, The Economic Society of Australia, vol. 39(4), pages 389-406, December.
    5. Agasisti, Tommaso & Barucci, Emilio & Cannistrà, Marta & Marazzina, Daniele & Soncin, Mara, 2023. "Online or on-campus? Analysing the effects of financial education on student knowledge gain," Evaluation and Program Planning, Elsevier, vol. 98(C).
    6. Thomas Korankye & Blain Pearson, 2023. "Managing Household Finances: How Engaging in Financial Management Activities Relates to the Experiential Well-Being of Americans," JRFM, MDPI, vol. 16(2), pages 1-13, February.
    7. Msomi Thabiso Sthembiso & Olarewaju Odunayo Magret & Ngcobo Xolani, 2021. "Sustaining South African Small and Medium-sized Enterprises Through Monetary Access and Literacy in the COVID-19 ERA," Folia Oeconomica Stetinensia, Sciendo, vol. 21(2), pages 57-75, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jpenef:v:17:y:2018:i:03:p:254-277_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/pef .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.