Primary Outcomes (explanation)
Financial literacy is measured with entry and exit exams designed taking into account the content of the workbooks. Socioemotional skills is measured through self-rated scales of conscientiousness, self-control, impulsiveness, time-preferences, and risk aversion. Conscientiousness, which is closely related to deliberative thinking, was measured using the Big Five Scale for this attribute [Pervin and John, 1999]. Self-control is measured by Tangney et al. ’s scale, while impulsiveness is measured by the Barratt Impulsiveness Scale (BIS-11) [Orozco-Cabal et al., 2010]. Time inconsistency is defined as in Ashraf et al. . Although preferences and personality traits are
self-reported, they are measured relying on extensively tested scales that are specifically designed to be self-rated.
Consumption and saving habits are measured also through self-reported survey data.
Credit behavior up to three years after the intervention was provided by EQUIFAX, a private credit bureau that concentrates loans data from almost all lenders in the Peruvian credit market. EQUIFAX's data captures an individual's credit standing at the time in which she is searched, both in terms of their positive and negative records. Loan records report the current balance by default status and source of the funds, distinguishing between loans from banks and financial institutions supervised by the SBS from those that come from formal but non-regulated institutions such as microfinance NGOs and cooperatives. In addition to loan balances, the credit bureau's data also captures late or skipped payments of service bills and credit cards.