AEA RCT Registry

Trial Information

General Information

Title

Promoting financial inclusion and financial literacy for displaced Venezuelan and Colombian migrants in Colombia

RCT ID

AEARCTR-0013779

Initial registration date

June 06, 2024

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

June 24, 2024, 12:18 PM EDT

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

Locations

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Primary Investigator

Name

Pablo Celhay

Affiliation

Pontificia Universidad Catolica de Chile

Contact Primary Investigator

Other Primary Investigator(s)

Additional Trial Information

Status

In development

Start date

2024-05-01

End date

2024-12-31

Keywords

Behavior, Post-conflict, Welfare

Additional Keywords

Cash transfers; Savings; Financial Inclusion; Impact evaluation; Refugees.

JEL code(s)

Secondary IDs

Prior work

This trial does not extend or rely on any prior RCTs.

Abstract

We propose a randomized control trial of financial inclusion interventions with 1,500 displaced Venezuelan migrants and Colombian returnees who participate in the ADN Dignidad cash transfer program in Colombia. ADN Dignidad beneficiaries receiving transfers through banking accounts or mobile money will be randomly assigned to receive monetary incentives to save or financial literacy. The objectives of the intervention are to strengthen the long-term sustainability of improved livelihoods and economic conditions derived from the temporary cash transfers and to enhance the social and economic integration of this vulnerable population in host communities. Treatment effects will be measured through a purpose-specific survey collected 1 to 3 months following program completion. The results of this evaluation will inform the scale up of financial inclusion as a complementary intervention for vulnerable displaced populations receiving cash transfers.

External Link(s)

Registration Citation

Citation

Celhay, Pablo. 2024. "Promoting financial inclusion and financial literacy for displaced Venezuelan and Colombian migrants in Colombia ." AEA RCT Registry. June 24. https://doi.org/10.1257/rct.13779-1.0

Sponsors & Partners

Experimental Details

Interventions

Intervention(s)

The evaluation will be based on a three-armed RCT. The intervention will offer access to formal bank accounts and/or mobile banking to all ADN Dignidad beneficiaries. Among those that agree to open an account with Davivienda, two treatment arms will be randomized. The first treatment arm is monetary incentives to save with their newly opened account. The second treatment arm is training in financial literacy. Both treatment arms will be allocated randomly to a sample of ADN Dignidad participants who took up the offer of opening a savings account with Davivienda. The experiment will be embedded in ADN Dignidad’s ongoing enrollment process for participant cohorts enrolled in the first months of 2024 (January-April, or until the evaluation sample is completed). New participants will be screened for interest in opening a Davivienda account. Interested participants will in turn be randomly assigned to one of the two treatment arms or a control group. Random assignment will be at the individual level. We will collect an endline survey 1 to 3 months after the intervention ends (September through November 2024) to measure short-run effects. The survey will be conducted through computer-assisted telephone interviews, and we will reserve a 15% sub-sample for in-person tracking of households that are not reached by phone.

Intervention Start Date

2024-05-01

Intervention End Date

2024-12-31

Primary Outcomes

Primary Outcomes (end points)

Several key outcomes of interest will be investigated, including shock resilience (e.g., coping strategies for food security, assets and businesses, dependence on child labor, intra-household conflict and gender-based violence), development of social networks, social cohesion and/or social inclusion (e.g., number of trusted individuals, membership in local community organizations, formalization of legal status, perceived insecurity and discrimination), financial inclusion (e.g., likelihood of obtaining a savings account, amount of savings, engagement in formal financial activities), productive investments (e.g., investments in micro-enterprises, acquisition of business tools, probability of starting or growing a business), labor market participation (e.g., probability of employment, number of hours working), wages and income.

Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)

Secondary Outcomes (explanation)

Experimental Design

The evaluation will be based on a three-armed RCT. The intervention will offer access to formal bank accounts and/or mobile banking to all ADN Dignidad beneficiaries. Among those that agree to open an account with Davivienda, two treatment arms will be randomized. The first treatment arm is monetary incentives to save with their newly opened account. The second treatment arm is training in financial literacy. Both treatment arms will be allocated randomly to a sample of ADN Dignidad participants who took up the offer of opening a savings account with Davivienda. The experiment will be embedded in ADN Dignidad’s ongoing enrollment process for participant cohorts enrolled in the first months of 2024 (January-April, or until the evaluation sample is completed). New participants will be screened for interest in opening a Davivienda account. Interested participants will in turn be randomly assigned to one of the two treatment arms or a control group. Random assignment will be at the individual level. We will collect an endline survey 1 to 3 months after the intervention ends (September through November 2024) to measure short-run effects. The survey will be conducted through computer-assisted telephone interviews, and we will reserve a 15% sub-sample for in-person tracking of households that are not reached by phone.

Experimental Design Details

Not available

Randomization Method

We use a simple randomization using Stata software

Randomization Unit

individual

Was the treatment clustered?

No

Experiment Characteristics

Sample size: planned number of clusters

1,500 individuals

Sample size: planned number of observations

1,500

Sample size (or number of clusters) by treatment arms

500 individuals by treatment arm

Minimum detectable effect size for main outcomes (accounting for sample design and clustering)

Supporting Documents and Materials

IRB

Institutional Review Boards (IRBs)

IRB Name

Pontificia Universidad Católica de Chile

IRB Approval Date

2023-09-04

IRB Approval Number

220513006

Analysis Plan