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The Role of Parents in Introducing Children to Financial Services: Evidence from Ghana-YouthSave

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  • Shiyou Wu

    (University of North Carolina at Chapel Hill)

  • Mathieu R. Despard

    (University of Michigan)

  • Gina Chowa

    (University of North Carolina at Chapel Hill)

Abstract

Financial capability—financial knowledge, skills, and access to financial services—may help smooth transitions to adulthood for youth and is affected by socialization experiences with parents and other family members. Among a sample of youth and their parents enrolled in the YouthSave experiment in Ghana (n = 4,065), this study examined whether physical access to financial services and/or visiting banks with parents or other family members was associated with youth’s perceptions and understanding of financial institutions. We found a statistically significant association between visiting the bank with a parent or other family member and youth’s attitudes (β = 1.45, p

Suggested Citation

  • Shiyou Wu & Mathieu R. Despard & Gina Chowa, 2017. "The Role of Parents in Introducing Children to Financial Services: Evidence from Ghana-YouthSave," Journal of Family and Economic Issues, Springer, vol. 38(3), pages 453-462, September.
    • Handle: RePEc:kap:jfamec:v:38:y:2017:i:3:d:10.1007_s10834-017-9519-6
    DOI: 10.1007/s10834-017-9519-6
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    Cited by:

    1. Zhu, Alex Yue Feng, 2019. "School financial education and parental financial socialization: Findings from a sample of Hong Kong adolescents," Children and Youth Services Review, Elsevier, vol. 107(C).
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    4. Shiyou Wu & Mimi V. Chapman & Meihua Zhu & Xiafei Wang, 2020. "Household Assets, the Role of Government Assistance, and Depression Among Low-Income Families in Shanghai," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 149(2), pages 571-584, June.
    5. Zhu, Alex Yue Feng, 2020. "Impact of school financial education on parental saving socialization in Hong Kong adolescents," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 87(C).

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