IDEAS home Printed from https://ideas.repec.org/a/eee/chieco/v88y2024ics1043951x24001834.html
   My bibliography  Save this article

How motivations and costs affect financial knowledge learning? Evidence from a large-scale FinTech experiment in China

Author

Listed:
  • Pan, Xuefeng
  • Su, Qin
  • Lei, Haibo

Abstract

Utilizing the launch of mobile wealth management services in China in 2013 as a shock to financial education, we analyze a panel of 16,440 households through a difference-in-differences strategy to examine how learning motivations and costs affect financial knowledge learning. Results show that using mobile services encourages risky asset holdings and enhances the self-discipline to learn, which, coupled with low-cost and personalized learning tools provided through the services, increases financial knowledge. We contribute by utilizing a large-scale experiment beyond the classroom to show the role of learning motivations and costs in financial knowledge learning, therefore help clear the controversy on the effectiveness of financial education.

Suggested Citation

  • Pan, Xuefeng & Su, Qin & Lei, Haibo, 2024. "How motivations and costs affect financial knowledge learning? Evidence from a large-scale FinTech experiment in China," China Economic Review, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:chieco:v:88:y:2024:i:c:s1043951x24001834
    DOI: 10.1016/j.chieco.2024.102294
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1043951X24001834
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.chieco.2024.102294?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Mobile wealth management; Financial education; Financial knowledge; Motivation; Cost;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • I20 - Health, Education, and Welfare - - Education - - - General
    • O36 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Open Innovation

    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:eee:chieco:v:88:y:2024:i:c:s1043951x24001834. 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: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/chieco .

    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.