We study the impact of a comprehensive high school financial education program spanning 6 states, 892 schools, and approximately 25,000 students in Brazil through a randomized control trial. The program increased student financial proficiency by a quarter of a standard deviation and raised grade-level passing rates. Short-term financial behaviors, however, show mixed results with significant improvements in students' savings and budgeting as well as positive spillovers to parents, but also an increase in students' use of expensive credit to make consumer purchases.
"The Impact of High School Financial Education: Evidence from a Large-Scale Evaluation in Brazil."
American Economic Journal: Applied Economics,
Household Saving; Personal Finance
Analysis of Education
Microeconomic Analyses of Economic Development
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance