Replication data for: Keeping It Simple: Financial Literacy and Rules of Thumb

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Keep-it-Simple-Replication-Files			10/12/2019 04:40:PM
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Project Citation:

Drexler, Alejandro, Fischer, Greg, and Schoar, Antoinette. Replication data for: Keeping It Simple: Financial Literacy and Rules of Thumb. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113888V1

Project Description

Summary: Micro-entrepreneurs often lack the financial literacy required to make important financial decisions. We conducted a randomized evaluation with a bank in the Dominican Republic to compare the impact of two distinct programs: standard accounting training versus a simplified, rule-of-thumb training that taught basic financial heuristics. The rule-of-thumb training significantly improved firms' financial practices, objective reporting quality, and revenues. For micro-entrepreneurs with lower skills or poor initial financial practices, the impact of the rule-of-thumb training was significantly larger than that of the standard accounting training, suggesting that simplifying training programs might improve their effectiveness for less sophisticated individuals.

Scope of Project

JEL Classification:
      D04 Microeconomic Policy: Formulation, Implementation, and Evaluation
      G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
      L24 Contracting Out; Joint Ventures; Technology Licensing
      L25 Firm Performance: Size, Diversification, and Scope
      L26 Entrepreneurship
      M41 Accounting
      O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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Published Versions

V1 [2019-10-12]

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DDI 2.5

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