Assessing Multidimensional Impacts of Financial Education in Schools: Experimental Evidence from Brazil

Last registered on March 31, 2023
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Pre-Trial

Trial Information

General Information

Title
Assessing Multidimensional Impacts of Financial Education in Schools: Experimental Evidence from Brazil
RCT ID
AEARCTR-0010377
Initial registration date
November 08, 2022

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
November 08, 2022, 4:00 PM EST

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Last updated
March 31, 2023, 10:17 AM EDT

Last updated is the most recent time when changes to the trial's registration were published.

Locations

Country
Brazil
Region
Center-West Region, Goiás

Primary Investigator

Name
Daniele Chiavenato
Affiliation
Nova School of Business and Economics
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Other Primary Investigator(s)

PI Name
Ricardo Madeira
PI Affiliation
University of São Paulo
Contact Investigator
PI Name
Victor Vaccaro
PI Affiliation
Insper Institute of Education and Research
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Additional Trial Information

Status
On going
Start date
2021-02-01
End date
2023-05-31
Keywords
Education
Additional Keywords
Financial Education, Socioemotional Skills
JEL code(s)
G53, J24, I21
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
The experimental design will be used to infer the impacts of a financial education course integrated into the math curriculum for 9th and 10th grade students, as well as active learning methodologies trainings for their teachers. The program targets students from disadvantaged families, seeking to make school more attractive and effective for them.

The intervention spans the biennium 2021 and 2022 and comprises three treatment arms: a single dose of the program for students and teachers (in the 9th grade); a second dose for students in the 10th grade, and a second for 9th grade math teachers. The evaluation seeks to account for the impacts of the program over students cognitive and non-cognitive development, teachers’ practices and motivation, their financial knowledge and behaviour, their attachment to school, besides the use of a new instrument to measure students’ readiness for the labor market.
External Link(s)

Registration Citation

Citation
Chiavenato, Daniele , Ricardo Madeira and Victor Vaccaro. 2023. "Assessing Multidimensional Impacts of Financial Education in Schools: Experimental Evidence from Brazil." AEA RCT Registry. March 31. https://doi.org/10.1257/rct.10377-2.1
Sponsors & Partners

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Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2021-05-06
Intervention End Date
2022-12-01

Primary Outcomes

Primary Outcomes (end points)
Some of the dimensions that will be evaluated:
• students' math performance;
• students' non-cognitive skills;
• students' readiness for the labor market;
• family involvement with the school;
• schools’ dropout and pass rates;
• knowledge and financial behaviour of students and teachers;
• teachers' motivation and pedagogical practices.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
The 190 schools selected to participate in the study were divided into pairs of similar units, based on administrative and baseline survey data. In April 2021, a public draw was held to assign one school within each pair to the treatment group and another to the control.
In short, the trial is composed of three arms:
- In 2021: 9th grade students and their math teachers at treatment schools received the program;
- In 2022: the students who received the program in 2021, were assigned to a second dose of it in the 10th grade, while their teachers received the training for the first time;
- In 2022: at the same schools, 9th grade teachers who received the program in 2021, were assigned to a second dose of training, while 9th grade students received the program for the first time.
Experimental Design Details
Randomization Method
Public Draw
Randomization Unit
Schools
Was the treatment clustered?
Yes

Experiment Characteristics

Sample size: planned number of clusters
190 Schools
Sample size: planned number of observations
Around 35,000 students and 600 teachers, counting both years (2021 and 2022).
Sample size (or number of clusters) by treatment arms
For the three treatment arms, we have:
- 95 schools in the treatment group;
- 95 schools in the control.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
Secretary of Education of Goiás
IRB Approval Date
2019-08-07
IRB Approval Number
N/A
Analysis Plan

Post-Trial

Post Trial Information

Study Withdrawal

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Intervention

Is the intervention completed?
No
Data Collection Complete
Data Publication

Data Publication

Is public data available?
No

Program Files

Program Files
Reports, Papers & Other Materials

Relevant Paper(s)

Reports & Other Materials