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Field
Trial Title
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Before
Fostering financial literacy in rural Uganda: Experimental evidence on financial education among small scale retailers
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After
Fostering financial literacy and behavior: Experimental evidence on financial education among small scale retailers in rural Uganda
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Field
Abstract
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Before
This cluster-RCT evaluates the comparative effectiveness of two financial literacy trainings offered to small-scale retailers in the Rwenzori-region.
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After
Financial education interventions have become widespread in recent years and seek to strengthen the financial knowledge and behavior of consumers and small-scale entrepreneurs. However, recent systematic reviews of the literature (Fernandes et al. 2014; Miller et al. 2015) question the effectiveness of such programs to target individual financial behavior. Recent experiments go beyond estimations of average treatment effects of a single program, but complement these findings with evidence on orthogonal treatments designed to study the causal mechanism behind these interventions. However, the role of differential pedagogical approaches and design is a surprisingly underresearched issue in the financial education literature. This cluster-randomized field experiment evaluates the comparative effectiveness of two financial literacy trainings offered to small-scale retailers in the Rwenzori-region in western Uganda. The two treatments experimentally vary the use of visuals, narratives and participant involvement. Thus, we are able to study the relative importance of the pedagogical design in financial education interventions and shed light on the causal mechanism underlying the observed behavioral changes expected from these kinds of interventions.
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Field
Last Published
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Before
October 10, 2015 08:20 AM
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After
February 01, 2016 07:41 AM
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Field
Intervention (Public)
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Before
Two different financial education modules.
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After
Two different financial education modules (designed by GiZ and the Bank of Uganda) which differthe use of visuals, narratives and participant involvement. Thus, one intervention represents a "standard" approach in the delivery of these - mainly lecture based - trainings while the other intervention introduces pedagogical innovations.
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Field
Primary Outcomes (End Points)
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Before
Financial Literacy, Financial Behavior (Saving, Borrowing, Record Keeping, etc.)
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After
Financial literacy and attittudes, Financial behavior (saving, borrowing, record keeping, insurance, etc.), consumption, take-up of new income-generating activities
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Field
Power calculation: Minimum Detectable Effect Size for Main Outcomes
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Before
Cohens` d between 0.15 and 0.25 (financial behavior).
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After
Cohens` d between 0.15 and 0.25 (financial behavior) (ICC unknown as of today)
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Field
Additional Keyword(s)
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Before
Financial Literacy, Financial Education, Cluster-RCT
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After
Financial behavior, Financial literacy, Financial education, Cluster-RCT
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Field
Keyword(s)
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Before
Education, Finance
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After
Education, Finance, Welfare
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